African Markets - Factors to watch on Aug 2
NAIROBI, Aug 2 (Reuters) -The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.
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GLOBAL MARKETS Asian shares and U.S. Treasury yields slid while the Swiss franc and yen rose on safety bids on Friday after weaker-than-expected U.S. factory data sparked fears of a worsening economic outlook.nL1N3JP02SMKTS/GLOB WORLD OIL PRICES Oil prices rose on Friday but were set for a fourth successive weekly decline, as signs of disappointing global fuel demand growth outweighed fears of supply disruptions.nL1N3JP03OO/R EMERGING MARKETS For the top emerging markets news, double click on nTOPEMRG AFRICA STOCKS For the latest news on South African stocks, click on .J SOUTH AFRICA MARKETS South Africa's rand firmed on Thursday as investors bet on a September interest rate cut in the world's biggest economy after dovish comments by the U.S. Federal Reserve on Wednesday.nL1N3JO0WV AFRICA CURRENCIES Kenya's shilling is expected to be stable in the next week to Thursday, while Ghana's cedi and Uganda's shilling could weaken and Zambia's kwacha could gain, traders said.nL8N3JO0WP NIGERIA ELECTRICITY African Development Bank has approved a loan of $500 million for Nigeria to boost its electricity sector, the bank said on Thursday.nS8N3E807X NIGERIA POLITICS At least three protesters were killed in Nigeria's Kaduna state on Thursday, Reuters reporters and eyewitnesses said, as demonstrators rallied across the West African nation against rising cost of living and governance issues.nL8N3JO14S KENYA MARKETS The Kenyan shilling KES= dipped against the US dollar on Thursday, according to data from the London Stock Exchange Group (LSEG).nL8N3JO0QK TANZANIA RAILWAY Tanzania on Thursday launched a 541-km modern standard gauge railway running between its administrative and commercial capitals, built by a Turkish firm as part of a government drive to improve transport infrastructure.nL8N3JO0XH ETHIOPIA ECONOMY At least two Ethiopian local governments have ordered the closure of dozens of businesses found hiking prices of basic commodities after the central bank floated the national currency, officials said on Thursday.nL8N3JO1O2 TOGO POLITICS Togo's President Faure Gnassingbe has retained Victoire Sidemeho Tomegah-Dogbe as prime minister and a government will be formed in the coming days in line with a new constitution, the presidency said on Thursday.nL8N3JO2OJ ZAMBIA ELECTRICITY Zambia's state-owned power utility ZESCO has agreed to buy 218 megawatts (MW) of electricity from South Africa and Zimbabwe to cushion a shortfall caused by reduced hydropower capacity, its energy minister said on Thursday.nL8N3JO1PN BOTSWANA DIAMONDS Sales of rough diamonds at Debswana Diamond Company fell 49.2% in the first half of 2024, according to data released by the Botswana central bank late on Wednesday, as the downturn in the global diamond market continued.nL4N3JO0QU For the latest precious metals report click on GOL/ For the latest crude oil report click on O/L |
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