Gold prices bounce off 3-week lows; demand likely longer term
NAIROBI, May 24 (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 stocks stumbled to a four-month low on Friday and
crude oil plunged on worries the U.S.-China trade spat was
developing into a more entrenched strategic dispute between
the world's two largest economies, pushing investors to
safe-haven assets. MKTS/GLOB
WORLD OIL PRICES
Oil prices jumped more than 1% on Friday amid OPEC supply
cuts and Middle East tensions, but still did not fully
recoup losses earlier in the week on economic slowdown
jitters and swelling inventories - their steepest drops
since the start of the year. O/R
EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand slipped nearly 1 percent to a three-week
low and stocks fell on Thursday after the central bank kept
lending rates unchanged, cut its growth forecast and struck
a dovish tone that suggested a cut was on its way.
KENYA MARKETS
The Kenyan shilling KES= was seen under pressure on Thursday
due to merchandise and oil importers buying dollars to meet
their end-month obligations, traders said. SAFARICOM
The chief executive of Safaricom SCOM.NR, Bob Collymore,
said on Thursday that he will stay in the top job at Kenya's
biggest telecoms operator for an extra year. AFRICA ECONOMY
A divided South African central bank kept interest rates
unchanged on Thursday, judging that signs of easing
inflation and a slowing economy that it believes shrank in
the first quarter were not strong enough to warrant a cut.
MINING
Zambia will carry out regular audits at all mines to avoid
any repeat of the situation at Vedanta VDAN.NS unit Konkola
Copper Mines (KCM), which has breached the terms of its
licence, the mining ministry said on Thursday. the latest precious metals report click on GOL/
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