African Markets - Factors to watch on July 8

  • Reuters
  • Stock Market News
African Markets - Factors to watch on July 8
Credit: © Reuters.

NAIROBI, July 8 (Reuters) - The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Friday.
- - - - -
EVENTS:
* SOUTH AFRICA - Treasury holds its weekly auction of
inflation linked bonds.
* SOUTH AFRICA - Treasury holds weekly auction for 3-month,
6-month 9-month and 1-year treasury bills.
* MAURITIUS - Statistics bureau expected to release
inflation data.
* TANZANIA- Statistics bureau expected to release inflation
data.

GLOBAL MARKETS
Asian stocks looked set to post their biggest weekly loss in
three weeks on Friday and government bond yields plunged to
fresh record lows as investors awaited U.S. jobs data to get
a clearer picture of the health of the world's biggest
economy. MKTS/GLOB

WORLD OIL PRICES
Oil prices LCOc1 rebounded on Friday, bouncing off
two-month lows hit in the previous session when prices fell
5 percent on news that the U.S. weekly crude draw missed
some forecasts. O/R

EMERGING MARKETS
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STOCKS
For the latest news on African stocks, click on .J

AFRICA CURRENCIES
Ghana's cedi GHS= is likely to weaken on increasing dollar
demand, while the Zambian kwacha ZMW= is set to firm as
companies convert greenbacks for tax payments. SOUTH AFRICA MARKETS
South Africa's rand ZAR=D3 relinquished earlier gains
against the dollar on Thursday after the International
Monetary Fund cut the 2016 domestic growth forecast to
barely above zero percent. Stocks rose, however, led by
financial services. .JTOPI ZAR/

SOUTH AFRICA GDP
South Africa's report on its first-quarter gross domestic
product, which showed Africa's most industrialised economy
contracted by 1.2 percent, represents the "low point" and "a
slow upward trend is expected going forward," a deputy
central bank governor said on Thursday. AFRICA OIL
Swiber Holdings Ltd SWBR.SI , a Singapore-based oilfield
services company, said on Friday that its $710 million
offshore field development project in West Africa had likely
fallen behind schedule due to weakness in the oil and gas
sector. STRIKE
A Nigerian trade union representing oil workers said it had
begun a strike on Thursday, but added that the effect of its
industrial action would not be felt for some time because it
started on a public holiday. POLITICS
Ugandan President Yoweri Museveni may have found a way to
run for another term, a move long expected by his critics,
who accuse him of seeking a life-time presidency.
ECONOMY
Mozambique, reeling from a sovereign debt crisis, sees 2016
economic growth slowing to 4.5 percent from initial
forecasts of 7 percent and needs to bring in austerity
measures in an amended budget, Finance Minister Adriano
Maleiane said on Thursday. POLITICS
Angolan President Jose Eduardo dos Santos is the only
candidate for the presidency of the ruling MPLA, the party's
central committee has said, according to state media.
POWER
A $1 billion hydroelectric dam planned for Cameroon's
Nachtigal River will be ready by 2020, adding over 30
percent to the country's hydropower capacity, the minister
of water and energy said on Thursday. the latest precious metals report click on GOL/
For the latest base metals report click on MET/L
For the latest crude oil report click on O/L

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