NAIROBI, June 21 (Reuters) - 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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GLOBAL MARKETS
Asian stocks struggled on Friday to follow Wall Street's
euphoria about a possible U.S. rate cut next month as
anxiety over Sino-U.S. trade negotiations clouded investor
sentiment in the region. MKTS/GLOB
WORLD OIL PRICES
Oil prices rose on Friday, with Brent crude heading for its
first weekly gain in five weeks on tensions in the Middle
East after Iran shot down a U.S. military drone and on hopes
for a drop in U.S. interest rates that may stimulate global
growth. O/R
EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand inched firmer late on Thursday following
a rally to a five-week best after the U.S. Federal Reserve
signalled possible interest rate cuts later this
year. PETROLEUM
Nigerian President Muhammadu Buhari has appointed a new
group managing director of the Nigerian National Petroleum
Corporation (NNPC), the state oil firm said on Thursday, one
of his first appointments since starting a second term in
office last month. MARKETS
The Kenyan shilling KES= was stable against the dollar on
Thursday with inflows from remittances and horticulture
exports helping meet demand from oil importers, traders
said. Also, the central bank governor said he was not
concerned by this month's falls in the shilling and the
weakness was not linked to plans to invalidate the old 1,000
shilling note. ELECTRICITY
Kenya has cut its target for expanding its electricity
output by 2030 by nearly 30% as demand is growing more
slowly than expected, its energy minister was quoted as
saying. COAST TELECOMS
The Ivory Coast unit of French telecoms group Orange
ORAN.PA aims to invest 180 billion CFA francs ($312
million) this year and next to improve its network and
provide new services, its director said on
Thursday. MINING
Vedanta Resources said it would take urgent steps to protect
its Zambian assets and pursue international arbitration if
necessary after a Lusaka court on Thursday rejected its
request to be included in liquidation
proceedings. SUDAN BUDGET
South Sudanese lawmakers stormed out of a budget
presentation by the finance minister on Thursday, with one
citing frustrations over non-payment of salaries to civil
servants and soldiers. CURRENCY
Zimbabwe's interim currency fell to a new low on the black
market on Thursday and local firms were demanding payment in
U.S. dollars as a hedge against inflation, which is running
at its highest in a decade. OIL
Angola, a key provider of oil to China, has suffered its
slowest trading month this year as poor refining margins,
high freight rates and subdued demand amid the trade war
between Beijing and Washington curbed its sales.
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