NAIROBI, July 29 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Wednesday.
- - - - -
EVENTS:
Kenya's central bank announces its latest benchmark rate
decision.
GLOBAL MARKETS
The U.S. dollar hovered just above a two-year low on Wednesday,
while stocks struggled, as growing worries about the U.S. economy
had investors cautious and looking to Congress and the Federal
Reserve for a boost. MKTS/GLOB
WORLD OIL PRICES
Oil prices rose on Wednesday after an industry report showed that
crude inventories in the United States fell against expectations,
giving the market a boost amid record increases of coronavirus
infections in the U.S. and elsewhere. O/R
EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand retreated on Tuesday, pulling back from a
strong rally as risk demand globally paused with investors eyeing
the U.S. central bank's latest policy meeting. BANKING
Nigeria's banks are expected to take a big hit to revenues and
face rising borrowing costs this year as central bank measures to
support the naira currency squeeze lenders already hit by fallout
from coronavirus and the oil price shock, analysts
say. PETROLEUM
Nigeria's state oil firm NNPC has signed a $1.5 billion
prepayment deal led by Standard Chartered STAN.L and backed by
oil traders Vitol Group and Matrix Energy, two sources close to
the matter said, the first such agreement since the coronavirus
pandemic. DEVELOPMENT BANK REVIEW
An independent review has found that the African Development Bank
rightly cleared its president, Akinwumi Adesina, of abuse of
office, paving the way for him to seek a second term. KENYA MARKETS
The Kenyan shilling KES= was unchanged on Tuesday, with inflows
from remittances helping to meet dollar demand from the energy
sector, traders said. SAFARICOM
Kenya's biggest telecoms operator Safaricom SCOM.NR said on
Tuesday it had launched a programme in partnership with Google
GOOGL.O that allows its customers to pay for 4G-enabled phones in
instalments, as it seeks to increase smart phone usage on its
network. STOCK EXCHANGE
Zimbabwe's stock market will resume trading next week after a
state financial intelligence body concluded an investigation, but
three stocks also listed on other exchanges, including Old
Mutual, will remain suspended, the finance minister said on
Tuesday. the latest precious metals report click on GOL/
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