African Markets - Factors to watch on July 18

  • Reuters
  • Stock Market News
African Markets - Factors to watch on July 18
Credit: © Reuters.

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

- - - - - EVENTS: *World Bank launches its Tanzania economic update

GLOBAL MARKETS Asian shares edged lower on Thursday as Wall Street stocks dropped on early signs that the U.S.-China trade war could hurt corporate earnings, which helped underpin solid demand for safe-haven U.S. Treasuries. MKTS/GLOB

WORLD OIL PRICES Oil prices steadied on Thursday after falling in the previous session when official data showed U.S. stockpiles of products like gasoline rose sharply last week, suggesting weak demand during the peak driving season. 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 edged lower on Wednesday in cautious trade ahead of an interest rate decision that is set to test the currency's recent rally and its ability to draw yield-seeking investors. ENI-SHELL Officials from Eni ENI.MI sought to convince a witness, a former Eni manager, to withdraw some statements he made during investigations into a Nigerian corruption case involving the Italian oil group, a court heard on Wednesday. MARKETS The Kenyan shilling KES= was stable against the dollar on Wednesday with inflows from diaspora remittances and offshore investors buying government debt seen meeting oil importer demand, traders said. GAMBLING Kenya has ordered the deportation of 17 foreign directors of betting firms operating in Kenya, the interior ministry said on Wednesday, almost a week after ordering telecoms firm Safaricom SCOM.NR to stop processing payments for sports betting firms. COCOA Ghana's Cocoa Marketing Company (CMC) has sold a total of 600,000 tonnes of cocoa beans for the 2019/20 season, sources at Ghana's marketing board Cocobod said on Wednesday. COAST COCOA Cocoa arrivals at ports in top grower Ivory Coast reached 2.092 million for the season between Oct. 1 and July 14, exporters estimated on Monday, up about 9 percent from 1.913 million tonnes during the same period last season. MARKETS The Ugandan shilling UGX= was stable on Wednesday, underpinned by inflows of hard currency from offshore investors and commodity exporters, traders said. EBOLA The World Health Organization on Wednesday declared Congo's Ebola outbreak an international health emergency, sounding a rarely used global alarm after the virus threatened to spread to a major city and into neighbouring countries. MINING Zambia expects nine companies to submit bids for Konkola Copper Mines (KCM) within weeks, mines minister Richard Musukwa said on Wednesday, even as a court case with Mumbai-listed Vedanta VDAN.NS over its ownership was underway. ACACIA MINING Acacia Mining ACAA.L said on Wednesday it was seeking a stay of international arbitration proceedings against Tanzania, a step that could ease tensions between the two sides locked in a dispute following a $190-billion tax bill. POLITICS Activists in Ethiopia were set to declare a new region for their Sidama ethnic group on Thursday in defiance of the central government, with some residents of the southern city of Hawassa worried that it could lead to violence. the latest precious metals report click on GOL/

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