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African Markets - Factors to watch on July 3

Published 03/07/2020, 06:26
Updated 03/07/2020, 06:30
© Reuters.

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Friday.
- - - - -

GLOBAL MARKETS
Asian shares rallied to a four-month high on Friday on
robust U.S. payrolls data and a brisk pickup in Chinese
service sector activity but a surge in coronavirus cases in
the United States kept a lid on further
risk-taking. MKTS/GLOB

WORLD OIL PRICES
Oil prices eased on Friday, reversing earlier gains, as the
resurgence of the coronavirus globally and in the United
States, the world's largest oil consumer, stoked worries
that a fuel demand recovery could stall. 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 firmed on Thursday after the country
recorded a surprise current account surplus and demand for
emerging market currencies was boosted by strong jobs data
in the United States that encouraged
risk-taking. TOURISM
African countries have lost almost $55 billion in travel and
tourism revenues in three months due to the coronavirus
pandemic, the African Union (AU) commissioner for
infrastructure and energy said on Thursday. CURRENCIES
The Kenyan shilling is expected to trade on the back foot
next week while that of Tanzania is seen strengthening and
the Nigerian, Ugandan and Zambian currencies holding
steady. OIL
Pirates attacked an oil production vessel off Nigeria in the
early hours of Thursday and kidnapped nine Nigerian
nationals, the ship's owner BW Offshore BWO.OL
said. MARKETS
The Kenyan shilling KES= was stable on Thursday, thanks to
inflows from remittances and horticulture exports, traders
said. PROTESTS
Imprisoned as a teenager for his political activism, singer
Haacaaluu Hundeessaa grew into one of Ethiopia's biggest
stars and his songs became anthems for the young protesters
who brought down one of Africa's most repressive
regimes. MINING
Israeli billionaire mining investor Dan Gertler denied on
Thursday that he had tried to evade U.S. sanctions after
watchdogs said he appeared to have funnelled millions of
dollars through a bank in the Democratic Republic of
Congo. SECURITY
At least 32 civilians were killed in central Mali when
unidentified armed men on motorbikes attacked ethnic Dogon
farming villages on Wednesday, local authorities
said. SECURITY
A small homemade bomb exploded in Cameroon's capital on
Thursday, wounding two people, a senior official told
Reuters, the third minor explosion of its kind in Yaounde in
recent weeks. ELEPHANTS
Botswana is investigating a growing number of unexplained
deaths of elephants, having confirmed 275 had died, up from
154 two weeks ago, the government said on
Thursday. AIRLINE
The Namibian government is weighing several options
regarding the future of struggling national carrier Air
Namibia, new Finance Minister Iipumbu Shiimi told parliament
on Thursday. 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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