July 6, 2015 / 5:03 AM / in 4 years

African Markets - Factors to watch on July 6

NAIROBI, July 6 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Monday.
    - - - - -
 EVENTS:
 *TANZANIA - Regional bloc East African Community's heads of
 state to meet to discuss Burundi's political crisis arising
 from President Pierre Nkurunziza's decision to seek a third
 term in office, which his opponents say violates the
 constitution.
 *Mozambique to release its consumer inflation data for June
 anytime starting on Monday.
 
 GLOBAL MARKETS
 Asian stocks and the euro stumbled on Monday after a Greek
 vote against austerity measures endangered its future in the
 single currency and raised the risk of a full-blown crisis
 in the euro zone.                           
 
 WORLD OIL PRICES
 Oil prices fell sharply early on Monday after Greece
 rejected austerity measures demanded in return for bailout
 money and as China rolled out an unprecedented series of
 steps to prevent a full-blown stock market crash.
                     
 
 EMERGING MARKETS
 For the top emerging markets news, double click on
            
 
 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 AFRICA DEBT
 More investors could exit Nigeria's bond market on concerns
 that new foreign exchange curbs would hinder capital
 repatriation, while Kenya's higher yielding short-term notes
 could attract more demand than Treasury
 bills.                      
 
 SOUTH AFRICA MARKETS
 South African shares slid on Friday with Kumba Iron Ore
 dipping to its lowest level in 10 weeks after a slump in
 iron ore futures.               
     The rand slipped against the dollar on Friday as
 domestic data continued to disappoint in a week where the
 frailties of South Africa's economy showed.                
 
 NIGERIA MARKETS
 Nigerian stocks fell for a fifth straight week and the naira
 hovered at record lows on the parallel market on Friday,
 with demand for dollars making further declines likely next
 week.                
     Nigeria's interbank lending rate eased to an average of
 4.5 percent on Friday, its lowest since the central bank
 raised its benchmark interest rate to 13 percent last
 December and down from 6 percent last week.                
 
 NIGERIA CENTRAL BANK
 Nigeria's central bank is no mood to devalue the naira given
 the risks to inflation from a weaker currency, its spokesman
 said on Friday, potentially delaying investment flows into
 Africa's biggest economy.                
 
 NIGERIA SECURITY
 Suspected Boko Haram insurgents attacked the outskirts of a
 state capital in northeastern Nigeria on Friday, escalating
 their attacks after a week of bloodletting in which more
 than 150 people were killed, military sources said.
                
 
 KENYA MARKETS
 The Kenyan shilling        weakened on Friday as dollar
 demand increased, sinking to a level not seen since November
 2011, while expectations of dollar sales by the central bank
 failed to materialise.               
 
 KENYA PORT  
 East Africa's biggest port in the Kenyan city of Mombasa
 said on Saturday it had dismissed 27 workers it believed
 were behind a strike this week that paralysed operations for
 two days and cost the port at least $2 million.
                
 
 KENYA NATIONAL BANK
 National Bank of Kenya's (NBK)          expansion plan could
 be delayed by at least three years after its failure to win
 approval for a rights issue, the bank's chief executive
 said.               
 
 TANZANIA PETROLEUM LAW
 Tanzania's parliament on Sunday approved a legal and
 regulatory framework for developing its nascent hydrocarbons
 industry, after days of contentious debate.                
 
 BURUNDI POLITICS
 Burundi on Sunday rejected a second U.N. diplomat named to
 help resolve the country's political crisis, saying a
 critical report about last week's parliamentary elections
 demonstrated bias.                
 
 MADAGASCAR POLITICS
 Lawmakers in Madagascar rejected a bid to sack the prime
 minister and cabinet late on Friday as lawmakers, ending an
 effort that threatened further turmoil in a country still
 recovering from a 2009 coup.                
 
 GHANA MARKETS
 The Bank of Ghana said the yield on its 91-day bill fell to
 25.1801 percent at an auction on Friday, from 25.2258
 percent at the last sale.                
 
 GHANA COCOA
 Ghana's cocoa regulator Cocobod has purchased 652,986 tonnes
 of cocoa in the 2014/15 season as of June 26, Deputy Finance
 Minister Cassiel Ato Forson told parliament, according to
 records seen by Reuters on Friday.                
 
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