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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 shares skidded on Tuesday on growing worries about a
second wave of coronavirus infections after the Chinese city
where the pandemic originated reported its first new cases
since its lockdown was lifted.
MKTS/GLOB
WORLD OIL PRICES
Oil futures rose on Tuesday, boosted by an unexpected
commitment from Saudi Arabia to deepen production cuts in
June to help drain the glut in the global market that has
grown as the coronavirus pandemic crushed fuel demand.
O/R
EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand weakened on Monday as optimism over the
global economic recovery faded, with investors turning back
to safe haven assets as a second wave of novel coronavirus
infections hit South Korea and Germany.
MARKETS
Nigeria has put in place policies to ensure foreign
investors that want to repatriate funds can exit the country
in an orderly fashion, the central bank said late on Sunday,
without giving any details.
MARKETS
The Kenyan shilling KES= was stable on Monday due to weak
demand for dollars as the market continued to assess the
potential impact of an IMF loan and recovering farm exports.
POLITICS
Kenyan President Uhuru Kenyatta purged the Senate of key
leaders aligned with his deputy, William Ruto, and replaced
them with his own supporters on Monday, in a move likely
designed to curtail Ruto's ambitions to become the next
president.
DEBT SCANDAL
Mozambican state prosecutors have applied to a court to
close three state companies at the heart of a debt scandal
that triggered a currency collapse and sovereign debt
default, the prosecutors' office told Reuters.
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