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African Markets - Factors to watch on August 26

Published 26/08/2019, 05:40
© Reuters.  African Markets - Factors to watch on August 26
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NAIROBI, Aug 26 (Reuters) - The following company

announcements, scheduled economic indicators, debt and currency

market moves and political events may affect African markets on

Monday.

- - - - -

EVENTS

*Kenya is set to export its first shipment of crude oil from

the port city of Mombasa.

GLOBAL MARKETS

Asian shares sank on Monday as the latest salvo in the

Sino-U.S. trade war shook confidence in the world economy

and sent investors steaming to the safe harbours of

sovereign bonds and gold, while slugging emerging market

currencies.

MKTS/GLOB

WORLD OIL PRICES

Oil prices fell on Monday, pushing U.S. crude to its lowest

in more than two weeks, as an intensifying U.S.-China trade

war knocked confidence in the global economy.

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 firmed to a two-week high on Friday as

the dollar slipped after U.S. Federal Reserve Chair Jerome

Powell set the stage for further interest rate cuts.

KENYA MARKETS

The Kenyan shilling KES= was stable against the dollar on

Friday with inflows from diaspora remittances and portfolio

investors buying government debt offering support against

dollar demand from merchandise importers, traders said.

NIGERIA OIL

Nigerian stocks extended their rally on Friday to a

three-week high following President Muhammed Buhari's

inauguration of cabinet ministers, boosting hopes for

reforms that could lift growth for Africa's biggest economy,

traders said.

TANZANIA BANKING

Tanzania's central bank has given banks and financial

institutions three months to establish data centres in the

East African nation, saying it will impose hefty fines on

lenders that fail to comply.

ETHIOPIA POLITICS

Ethiopian lawmakers on Saturday revised election laws to

pave the way for polls next year, but some opposition

parties said the changes would make it more difficult for

them to challenge the ruling coalition. 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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