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African Markets - Factors to watch on July 29

Published 29/07/2019, 06:00
© Reuters.  African Markets - Factors to watch on July 29
USD/KES
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The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Monday.
- - - - -
GLOBAL MARKETS
Asian shares drifted lower on Monday as markets anxiously
counted down to a likely cut in U.S. interest rates this
week with much riding on whether or not the Federal Reserve
signals yet more are in the pipeline. MKTS/GLOB

WORLD OIL PRICES
Oil prices fell on Monday after Iran described emergency
talks on a multi-party nuclear agreement with a group of
signatories as "constructive", suggesting an easing of
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 tumbled to its weakest level in three
weeks on Friday, while the yield on debt issued by the
government and the power utility Eskom shot up as the risk
grew of a credit downgrade to junk status by
year-end. MARKETS
The Kenyan shilling KES= strengthened against the dollar
on Friday due to inflows from offshore investors buying
government debt. CENTRAL BANK
Nigeria's central bank plans to extend a low-interest loan
offer to local milk producers to discourage imports after it
curbed access to forex for the sector. TRADE
Nigeria is backing its commitment to join Africa's recently
agreed free trade zone by setting up a committee to
implement the agreement, and promising new laws where
necessary to enact membership of the pact, the presidency
said on Sunday. SECURITY
At least 65 people died in an attack by suspected Islamists
on a group returning from a funeral in Nigeria's
northeastern Borno region, state television reported on
Sunday, one of the deadliest attacks on civilians in recent
years. ECONOMY
Tanzania's economic growth slowed to 6.6% year-on-year in
the first quarter of 2019 from 7.5% in the same period a
year earlier, official data showed on Sunday, weighed down
by softer construction, agriculture and manufacturing
activity. POLITICS
Zimbabwean Tourism Minister Prisca Mupfumira was charged in
court on Friday with corruption involving $95 million from
the state pension fund after questioning by the newly formed
Zimbabwe Anti-Corruption Commission (ZACC). REPUBLIC OF CONGO POLITICS
Allies of Congo President Felix Tshisekedi and his
predecessor Joseph Kabila said they had reached an agreement
on Friday on the division of cabinet posts between the two
political camps. 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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