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African Markets - Factors to watch on July 26

Published 26/07/2019, 06:01
© Reuters.  African Markets - Factors to watch on July 26
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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EVENTS:
KENYA - East African Breweries Ltd. to hold full year
investor briefing on Friday in Nairobi.

GLOBAL MARKETS
Asian share prices dropped on Friday following mixed U.S.
earnings reports and after the European Central Bank
unexpectedly held interest rates steady, while the euro held
above two-year lows struck overnight. MKTS/GLOB

WORLD OIL PRICES
Oil prices fell on Friday after a Reuters poll showed global
economic growth is likely to slow further amid the
U.S.-China trade war, although losses were limited by
tensions in the Middle East. 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 fell to a two-week low on Thursday, hurt
by a Moody's report saying the government's proposal to
offer 59 billion rand ($4.25 billion) in additional support
to cash-strapped power utility Eskom was credit
negative. RATES
Kenya's central bank governor on Thursday dismissed the
market's concerns about the impact of graft charges against
the finance minister and attributed this week's fall in the
currency to seasonal demand for dollars. MARKETS
Kenya's shilling KES= dropped to 104.05/20 per dollar on
Thursday, its lowest level in almost two years, traders
said. They attributed the drop to uncertainty caused by
Monday's announcement that the finance minister would be
charged with financial misconduct. AIRWAYS
Kenya will take at least 21 months to take back full control
of its national carrier Kenya Airways KQNA.NR , buying out
minority shareholders and converting shares held by banks
into Treasury bonds, a lawmaker briefed on the transaction
said. REPUBLIC OF CONGO HEALTH
The resignation of Congo's health minister in the midst of
the country's worst Ebola outbreak could clear the way for a
second experimental vaccine to be deployed. But the new shot
would likely take months to win the trust of frightened
locals and show results, health officials say. ECONOMY
Zambia's economy is projected to grow by around 2.5% this
year, down from an initial projection of almost 4%, Finance
Minister Bwalya Ng'andu said on Thursday. POLITICS
Zimbabwe's Tourism Minister Prisca Mupfumira has been
detained for questioning by a newly formed Zimbabwe
Anti-Corruption Commission (ZACC), it said on
Thursday. 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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