TPI Composites files for Chapter 11 bankruptcy, plans delisting from Nasdaq
July 10 (Reuters) - The following company announcements,
scheduled economic indicators, debt and currency market moves
and political events may affect African markets on Friday.
- - - - -
EVENTS:
* Rwanda set to release inflation data for June. The
year-on-year inflation rate stood at 9.2% in May.
GLOBAL MARKETS
Asian shares and U.S. stock futures fell on Friday as
record-breaking new coronavirus cases in several U.S. states
stoked concerns that new lockdowns could derail an economic
recovery, while investors looked forward to earnings
season. MKTS/GLOB
WORLD OIL PRICES
Oil prices fell on Friday, adding to steep losses from the
previous session, and were headed for weekly declines on
worries that renewed lockdowns following a surge in
coronavirus cases in the United States and elsewhere would
suppress fuel demand. O/R
EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand firmed against the dollar on Thursday
thanks to a rally in riskier assets globally even as poor
manufacturing data at home highlighted the blow to the
economy from a coronavirus lockdown. CURRENCIES
Kenya's shilling will come under pressure over the next
week, while Tanzania's will likely hold firm, traders said.
Uganda's shilling was seen strengthening, Zambia's kwacha
holding ground and Nigeria's naira weakening. MARKETS
The Kenyan shilling KES= weakened on Thursday due to
increased dollar demand from the energy sector and general
merchants as businesses reopen following recent easing of
movement restrictions, traders said. BUDGET
Nigeria's President Muhammadu Buhari will on Friday sign
into law a 10.8 trillion naira ($28.38 billion) revised 2020
budget passed by lawmakers last month, the presidency said
on Twitter on Thursday. RATES
Uganda's central Bank (BoU) has threatened to cap the
interest that commercial banks can charge borrowers, after
the industry failed to reduce loan rates in response to cuts
in benchmark rates, according to a letter from its
governor. SUDAN MINISTERS
Sudan's prime minister replaced the finance, foreign, energy
and health ministers on Thursday as part of a reshuffle
aimed at accelerating the country's political transition
following calls from pro-democracy groups for faster
change. AFRICA CORONAVIRUS
African countries must carry out more coronavirus testing
and make people use masks, a regional disease control body
said on Thursday as cases topped half a million in the
continent. FUEL
Botswana will ration fuel from Thursday, President
Mokgweetsi Masisi announced, in a bid to ease a crippling
shortage that has seen some consumers rush to stock
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