African Markets - Factors to watch on July 22

  • Reuters
  • Stock Market News
African Markets - Factors to watch on July 22
Credit: © Reuters.

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

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GLOBAL MARKETS The euro stood at an 18-month high, silver soared and commodities forged ahead on Wednesday, as economic recovery hopes drove bets on rebounding world demand and a falling U.S. dollar. MKTS/GLOB

WORLD OIL PRICES Oil prices fell on Wednesday as industry data showed a bigger- than-expected inventory build in the United States where coronavirus cases continue to climb, potentially further denting demand in the world's biggest oil consumer. O/R

EMERGING MARKETS For the top emerging markets news, double click on STOCKS For the latest news on African stocks, click on .J

SOUTH AFRICA MARKETS South Africa's rand rallied more than 1% on Tuesday in a broad emerging market advance on perkier risk appetite after European Union leaders agreed a 750 billion-euro ($862 billion) fund to prop up their coronavirus-hit economies. ENI/SHELL Italian prosecutors have asked for oil majors Eni ENI (MI: ENI ).MI and Shell (LON: RDSa ) RDSa.L to be fined and some of their present and former executives, including Eni CEO Claudio Descalzi, to be jailed in a long-running trial over alleged corruption in Nigeria. MARKETS The Kenyan central bank sold dollars on Tuesday to support the shilling KES= against increased dollar demand from the energy sector and merchandise importers as business activity resumed following lifting of COVID-19 movement restrictions, traders said. FLOWERS Demand for Kenya's flowers has recovered to around 85% of pre-coronavirus levels as European markets open up after lockdowns, an industry body said, spurring hope that the industry could see a full rebound by next year. DAM EGYPT/SUDAN Ethiopia, Egypt and Sudan have agreed to resume talks to break a deadlock on the Grand Renaissance Dam reservoir on the Blue Nile, the leaders of the three countries said on Tuesday. CORONAVIRUS Zimbabwe President Emmerson Mnangagwa said on Tuesday his government would impose a night-time curfew and tighten other measures to tackle rising coronavirus infections, adding that anyone who challenged the rules faced severe punishment. MARKETS The Ugandan shilling UGX= was stable on Tuesday, drawing some support from inflows from exporters of commodities like coffee and others weighing against muted demand. POLITICS Uganda's long-serving President Yoweri Museveni has collected papers to seek nomination as the ruling party's candidate in next year's presidential election, the party said on Tuesday. ENVIRONMENT

From the top of a ladder, a Senegalese girl struggles to catch a glimpse of the beach hidden by a swanky hotel's sprawling ocean frontage - a stunt for a music video that highlights growing grassroots efforts to save Dakar's coast from hungry developers. COAST BONDS Ivory Coast has issued 145 billion CFA francs ($254.69 million)in bonds on the West African bourse to raise funds to help boost its economy, a lead manager said on Monday. LNG/AFRICA BANK The African Development Bank (AfDB) said on Tuesday that it has joined a global syndicate of banks and other financial institutions to provide financing for Mozambique's $20 billion liquefied natural gas (LNG) project. the latest precious metals report click on GOL/

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