July 17, 2017 / 7:04 AM / 5 days ago

African Markets - Factors to watch on July 17

3 Min Read

    NAIROBI, July 17 (Reuters) - The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Monday.
    - - - - -
 EVENTS:
 
     * NIGERIA announces inflation figures. 
     * ANGOLA announces inflation figures.
     * KENYA announces a rate decision. 
 
 GLOBAL MARKETS
 Asian stocks hit a two-year high on Monday, boosted by
 stronger-than-expected economic growth in China and bets that
 lacklustre U.S. data will keep the Federal Reserve cautious
 about the pace of policy tightening.                        
 
 GLOBAL OIL    
 Oil prices rose on Monday, supported by a slowdown in the
 growth of rigs looking for crude in the United States and
 because of strong refinery demand from China.
                  
 
 EMERGING MARKETS
 For the top emerging markets news, double click on           
 
 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 KENYA MARKETS
 The Kenyan shilling        was seen weakening against the
 dollar on Friday with importer demand outweighing limited
 inflows from portfolio investors buying government bonds,
 traders said.             
 
 SOUTH AFRICA MARKETS
 South Africa's rand extended its gains against a weak dollar
 on Friday, lifted by technical factors and comments by senior
 U.S. central bank officials about "gradual" tightening, which
 also helped ignite stocks.             
 
 NIGERIA BUDGET
 Nigeria's 2017 budget, signed into law by the acting
 president a month ago, has still not been finalised and is
 being amended due to disagreements between parliament and the
 presidency, two sources familiar with the matter
 said.             
 
 EGYPT INVESTMENT    
 Ride-hailing firm Careem, a Middle East rival to Uber
 Technologies Inc          , has bought a minority stake in a
 three-month-old Egyptian start-up that connects commuters
 with private buses in Cairo.             
 
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