Gold prices buoyed by tariff fears; US duties on 1-kilo bars spur supply concerns
The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Tuesday.
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GLOBAL MARKETS
Asian stocks rallied for their ninth straight day on Tuesday
and oil prices jumped as the lifting of coronavirus
lockdowns in many countries fed investor hopes of a
relatively quick global economic recovery.
MKTS/GLOB
WORLD OIL PRICES
Oil prices climbed on Tuesday as the easing of coronavirus
lockdown measures across the globe lifted trader hopes for a
swift recovery in demand, though gains were capped by the
spectre of persistent oversupply in the market.
O/R
EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand inched firmer on Monday as hopes of a
rapid global economic recovery from the COVID-19 pandemic
continued to feed risk appetite.
MARKETS
The Kenyan shilling KES= was firm on Monday due to stable
dollar demand from importers and an increase in hard
currency reserves at the central bank, which boosted
sentiment.
TELECOMS
Ghana will implement a set of policies to reduce the
dominance of MTN MTNJ.J in the country's
telecommunications market, the government has said in a
statement.
RATES
Uganda's central bank on Monday again cut its benchmark
lending rate by 100 basis points, taking it down to 7%, to
support the east African nation's economy as it downgraded
projected growth.
GROWTH
Uganda's economic growth is expected to decline by more than
half in the financial year to June 30 due to the effects of
the COVID-19 crisis, the country's statistics office said on
Monday.
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