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African Markets - Factors to watch on August 2

Published 02/08/2019, 06:01
Updated 02/08/2019, 06:10
© Reuters.  African Markets - Factors to watch on August 2
USD/KES
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KQNA
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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
Global stocks took another beating on Friday while investors
piled on to safe-haven assets after U.S. President Donald
Trump said he would slap a 10% tariff on the remaining $300
billion of Chinese imports from next month. MKTS/GLOB

WORLD OIL PRICES
Oil prices rose more than $1 on Friday, rebounding from
their biggest falls in years after U.S. President Donald
Trump imposed more tariffs on Chinese imports, intensifying
the trade war between the world's two biggest economies and
crude consumers. O/R

EMERGING MARKETS
For the top emerging markets news, double click on
STOCKS
For the latest news on African stocks, click on .J

SOUTH AFRICA MARKETS
South Africa's rand weakened on Thursday along with other
emerging market currencies, a day after the U.S. central
bank cut lending rates but ruled out a long rate-cutting
campaign. MARKETS
Kenya's shilling KES= strengthened on Thursday after the
central bank sold dollars to banks to stem persistent
weakness in the local unit, traders said. AIRLINE
By taking back full control of Kenya Airways KQNA.NR ,
lawmakers are banking on Kenya's ability to replicate the
profitable example of Ethiopia's state-owned flag carrier
Ethiopian Airlines. The global precedents are not
reassuring. OIL
One of Nigeria's main oil and gas trade unions on Thursday
threatened to take industrial action over a staffing dispute
with Chevron CVX.N . REPUBLIC OF CONGO HEALTH
Rwanda's border with Ebola-hit Democratic Republic of Congo
was fully open late on Thursday, a minister said, hours
after Congolese traders had reported it shut following a
third case of the disease in the Congolese border city of
Goma. CORRUPTION
The government of Mozambique is suing the boss of a
shipbuilding firm at the centre of the country's $2 billion
debt scandal for fraud, according to a court filing at the
High Court's commercial court in London. ECONOMY
Zimbabwe's economy will shrink this year due to a drought,
foreign currency shortages and severe power cuts, its
finance minister said, as he announced a threefold hike in
electricity tariffs that will fuel already crippling
inflation. ELECTRICITY
Zimbabwe's worsening power shortages have effectively turned
day into night for many businesses, with most work happening
well after dark, when lights flicker on for a few
hours. For the latest precious metals report click on GOL/
For the latest base metals report click on MET/L
For the latest crude oil report click on O/L

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