African Markets - Factors to watch on June 25

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Thursday.
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GLOBAL MARKETS
Asia's stock markets slipped, bonds rose and the U.S. dollar
was firm on Thursday as surging U.S. coronavirus cases,
global trade tensions and an International Monetary Fund
downgrade to economic projections knocked confidence in a
recovery. MKTS/GLOB

WORLD OIL PRICES
Oil prices slipped on Thursday, extending losses of more
than 5% in the previous session, weighed down by record high
U.S. crude inventories and worries that a rapid resurgence
in COVID-19 cases could choke a revival in fuel demand.
O/R

EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand briefly dipped after Finance Minister
Mboweni announced a wider budget deficit and soaring debt in
an emergency supplementary budget on Wednesday, but the
currency recovered as investors looked beyond local
issues. MARKETS
The Kenyan shilling KES= held firm on Wednesday due to
inflows from horticulture exports and diaspora remittances
supplying end month dollar demand from manufacturers and
some multinational companies, traders said. DEBT
Nigeria is in discussions with the World Bank and other
multilateral lenders to raise $6.5 billion, the finance
ministry said in a document seen by Reuters on
Wednesday. ECONOMY
Sub-Saharan Africa's gross domestic product is expected to
shrink by 3.2% this year due to the impact of the COVID-19
pandemic, the International Monetary Fund said on Wednesday,
more than a previous estimated contraction of
1.6%. OIL
When BP BP.L slashed its long-term oil price outlook last
week, prospects in Canada and Angola were rendered
worthless, company sources and analysts said, exposing
broader risks the industry faces as the world pivots to
low-carbon energy. ELECTION
Malawi's state and private media on Wednesday gave
opposition leader Lazarus Chakwera a comfortable 55% lead in
its presidential election re-run, with nearly three-quarters
of votes counted, but there was still no official
tally. REPUBLIC OF CONGO MINING
Three people were reported killed on Tuesday during clashes
at Société Minière de Bisunzu's (SMB) coltan mine in eastern
Congo, but the mine's owners and the cooperative that
operates it gave diverging accounts that disputed the police
role in the violence.. For the latest precious metals report click on GOL/
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