July 11, 2017 / 5:10 AM / 13 days ago

African Markets - Factors to watch on July 11

4 Min Read

    NAIROBI, July 11 (Reuters) - The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on 
Tuesday.
    - - - - -
 GLOBAL MARKETS
 Asian shares and the dollar cautiously edged higher on
 Tuesday, as investors awaited testimony from Federal Reserve
 Chair Janet Yellen for clues on when the central bank would
 tighten U.S. monetary policy.                        
 
 WORLD OIL PRICES
 Oil prices edged up on Tuesday, lifted in part by a strong
 demand outlook for the coming weeks, but overall market
 conditions remain weak on the back of ample supplies and a
 more subdued outlook for long-term demand.                  
 
 EMERGING MARKETS
 For the top emerging markets news, double click on           
 
 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 SOUTH AFRICA MARKETS
 South Africa's rand reversed earlier gains and slipped
 against the dollar on Monday as the U.S. currency hit a
 two-month high against the yen, boosted by robust economic
 data.             
 
 SOUTH AFRICA CENTRAL BANK
 South Africa's Public Protector will not oppose a court
 challenge against her binding proposal calling for a change
 to the mandate of the central bank, her office said on
 Monday.             
 
 NIGERIA PETROLEUM
 The Nigerian government's efforts to secure peace in the oil
 heartlands of the Niger Delta are empty promises, community
 leaders say, threatening a return to violence that would
 derail any broader recovery in the crude-dependent economy.
              
 
 NIGERIA PETROLEUM
 Libyan and Nigerian officials may attend a joint meeting
 between OPEC and non-OPEC nations later this month as oil
 producers look for ways to cap rising production to help
 support oil prices.             
 
 KENYA POLITICS
 Kenya said on Monday that it was cutting the salaries of top
 officials, including the president and lawmakers, and
 slashing their allowances, saving the East African economy
 8.5 billion shillings ($81.90 million) annually.             
 
 TANZANIA MINING
 Tanzanian President John Magufuli said on Monday he has
 signed into law new mining bills which require the government
 to own at least a 16 percent stake in mining projects.
             
 
 IVORY COAST COCOA
 Lighter rainfall in most of Ivory Coast's main cocoa-growing
 regions last week improved prospects for the main cocoa crop,
 although more sun is needed to boost flowering, farmers said.
             
 
 GHANA COCOA
 Ghana's cocoa regulator Cocobod has already received around
 $1.6 billion worth of bids in an oversubscribed loan
 syndication aimed at financing purchases of the 2017/18 crop,
 government and Cocobod sources told Reuters on Monday.
             
 
 MALI SECURITY
 About 10 Malian soldiers were missing following an ambush by
 suspected Islamist militants in the West African nation's
 desert north, the army said on Monday.             
 
 BURUNDI SECURITY
 A grenade attack killed eight people and wounded 50 others in
 a village in Burundi's northern Kayanza province late on
 Sunday, police said.             
 
 NAMIBIA ECONOMY
 Namibia's central bank lowered its 2017 growth forecast to
 2.1 percent from its previous view of 2.9 percent, citing
 uncertainty around the pace of recovery in the price of
 uranium, it said on Monday.             
 
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