Bullish indicating open at $55-$60, IPO prices at $37
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 inched up on Tuesday, with Chinese shares
making modest gains after a week-long holiday, though
investors remained cautious over U.S.-China trade talks
after President Donald Trump said a quick trade deal was
unlikely. MKTS/GLOB
WORLD OIL PRICES
Oil prices rose on Tuesday, buoyed by overnight gains in
industrial commodities, while unrest in oil-producing
countries Iraq and Ecuador raised concerns of supply
disruption, adding to support. O/R
EMERGING MARKETS
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STOCKS
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SOUTH AFRICA MARKETS
South Africa's rand weakened against the dollar on Monday
after China was reported to be reluctant to agree to a broad
trade deal with Washington, casting doubts on trade talks
due to start this week. MARKETS
The Kenyan shilling KES= was stable on Monday, with
inflows from investors buying government Treasury bills and
bonds seen offering support against excess liquidity in the
money markets, traders said. DRUGS
In a discreet clinic just outside the Kenyan capital, a
recovering heroin addict named Peter holds the hand of his
two-year-old daughter as he drinks a dose of
methadone. MARKETS
The Ugandan shilling UGX= was a touch weaker on Monday,
after the central bank cut its key lending rate by 100 basis
points to 9.0%. AVIATION
Uganda's national carrier Uganda Airlines received two
passenger planes on Monday, doubling the size of the
fledgling airline's fleet. RATES
Uganda's central bank cut its key lending rate UGCBIR=ECI
by 100 basis points to 9.0% on Monday, saying the reduction
would revive economic growth in the eastern African country,
a prospective crude oil producer. TELECOMS
Rwanda's Mara Group launched two smartphones on Monday,
describing them as the first "Made in Africa" models and
giving a boost to the country's ambitions to become a
regional technology hub. ECONOMY
Zimbabwe's economy is projected to contract by up to 6% this
year due to a drought that hit farming output and
electricity generation but is expected to rebound in 2020 on
better agriculture prospects, a treasury document showed on
Monday. COTTON
Major African cotton producer Mali expects to increase
output to 1 million tonnes annually within two to three
years, its agriculture minister told Reuters in an interview
on Monday, urging bigger producers to reign in harmful
subsidies to allow the African sector to thrive. COAST COCOA
Ivorian banks saddled with unpaid debts of around $250
million by the bankruptcy of former top exporter SAF-Cacao
are pleased with progress after the acquisition of its
assets by Societe Agricole du Cafe-Cacao (SACC), sources at
the banks said. For the latest precious metals report click on GOL/
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