The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Friday.
- - - - -
EVENTS:
NIGERIA - The statistics office releases the latest
inflation data. The rate dropped to 11.22% in June from
11.40% in the previous month.
NIGERIA - A British court will rule on a request from a firm
incorporated in the British Virgin Islands to seize up to $9
billion of Nigerian government assets.
ZIMBABWE - Zimbabwe's opposition will hold street
demonstrations against the handling of the economy by
President Emmerson Mnangagwa's government.
GLOBAL MARKETS
Asian shares found some footing on Friday after a turbulent
week as China hinted at more support for its economy, amid
growing expectations of aggressive stimulus from all the
major central banks.
MKTS/GLOB
WORLD OIL PRICES
Crude oil prices rose on Friday following two days of
declines, buoyed after data showing an increase in retail
sales in the U.S. helped dampen concerns about a recession
in the world's biggest economy.
EMERGING MARKETS
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AFRICA CURRENCIES
Kenya's and Tanzania's shillings are expected to hold steady
against the dollar in the next week to Thursday, as will
Zambia's kwacha, traders said.
AFRICA MARKETS
The South African rand ZAR=D3 gained more than 1 percent
against the dollar on Thursday, pulling back from a steep
sell-off as worries about the global economy eased slightly.
MARKETS
Nigeria's central bank plans to auction 150 billion naira
($489.5 mln) of open market bills on Thursday, traders said,
its second bill sale in a week as the country seeks to
attract more foreign investors.
MARKETS
The Kenyan shilling KES= was stable against the dollar on
Thursday and was expected to gain ground, supported by
inflows from investors buying government debt and diaspora
remittances, traders said.
Kenya is set to export its first crude oil after its
government and a group led by explorer Tullow Oil (LON:TLW) TLW.L
picked trading company ChemChina UK Ltd to buy its first
shipments, the Petroleum and Mining Ministry said.
KCB GROUP
Kenya's biggest lender by assets KCB Group KCB.NR is
confident of sealing its takeover offer of National Bank of
Kenya NBK.NR to increase its market share, its chief
executive said after reporting a 5% rise in first-half
profit.
GREEN BONDS
Kenya has approved its first ever issuance of a green bond,
which will raise 5 billion shillings ($48.45 million) for
student accommodation, the capital markets regulator CMA
said on Thursday.
RATES
Uganda's central bank kept its main interest rate UGCBIR=ECI
at 10.0% on Thursday and said an economic expansion had
slowed in the first two quarters of this year but higher
credit growth and public infrastructure spending supported
the outlook.
POLITICS
Zimbabwean police have banned street demonstrations planned
by the main opposition on Friday and anyone who takes part
would be committing a crime, a police spokesman said, likely
escalating political tension in the southern African nation.
COCOA
Ghana will not make a decision on a cocoa farmgate price
until an industry committee meets to discuss it in
September, a spokesman for the Ghana Cocoa Board (Cocobod)
said on Thursday.
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