African Markets - Factors to watch on July 20

  • Reuters
  • Stock Market News
African Markets - Factors to watch on July 20

NAIROBI, July 20 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

- - - - - EVENTS: *MAURITIUS - The central bank to hold its monetary policy committee (MPC) meeting and announce its latest benchmark rate. *KENYA - The central bank to auction 182-day and 364-day Treasury bills. *SOUTH AFRICA - Authorities expected to release June's consumer price index data.

GLOBAL MARKETS Asian stocks stepped back early on Wednesday after a record run on Wall Street showed signs of petering out, while the dollar hovered near a four-month high against a basket of currencies following upbeat U.S. data.

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WORLD OIL PRICES Oil futures rose in Asian trading on Wednesday but gains were limited and U.S. crude traded sideways in advance of the release of official weekly inventory figures later in the day.

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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 fell more than one percent and stocks dipped on Tuesday as a strong dollar, weakness in global stocks and a pullback in commodity prices weighed on emerging markets. MARKETS The Kenyan shilling KES= was a touch weaker on Tuesday, sapped by a dip in dollar inflows from non-governmental organizations (NGOs) and exporters. DEBT Ghana will issue a five-year cedi GHS= bond on Thursday to roll over maturing paper as it seeks cheaper financing to reduce its high public debt, transaction sources said on Tuesday. ECONOMY Nigeria's economy, the biggest in Africa, is likely to contract by 1.8 percent this year, the International Monetary Fund (IMF) said on Tuesday, as the country grapples with the impact of low oil prices. BANKS Nigeria's Sterling Bank STERLNB.LG has ended talks to buy rival Keystone Bank after finding it an unsuitable fit and is now focused on raising funds as it considers other acquisitions, its chief finance officer said on Tuesday.

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