#Africa #Markets – Factors to watch on May 30

NAIROBI, May 30 (Reuters) - The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Tuesday.

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 SOUTH AFRICA - M3 and PSCE data for April due.

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 GLOBAL MARKETS
 Concerns about a Greek bailout, early Italian elections and
 comments by the European Central Bank chief about the need
 for continued stimulus all kept the euro under pressure on
 Tuesday.                         
 
 WORLD OIL PRICES
 A run by U.S. oil prices towards $50 a barrel ran out of
 steam on Tuesday as persistent concerns of oversupply
 outweighed signs of a strong start to the American summer
 driving season.                   
 
 SOUTH AFRICA MARKETS
 South Africa's rand weakened on Monday after President Jacob
 Zuma defeated over the weekend another call from inside the
 ruling party for him to step down, while stocks closed flat,
 hampered by the banking sector.             
 
 SOUTH AFRICA POLITICS
 South Africa President Jacob Zuma defeated a no-confidence
 motion against him at a meeting of top officials of the
 ruling African National Congress party on Sunday, News24
 reported on its website.             
 
 SOUTH AFRICA VODACOM
 South Africa aims to save 16 billion rand ($1 billion) this
 year through better procurement practices, a senior Treasury
 official said on Monday, as the government reins in spending
 amid sluggish growth.             
 
 NIGERIA ECONOMY
 Nigeria's economy is the "biggest challenge of all" for the
 government, the acting president said on Monday at an event
 to celebrate two years of the administration of President
 Muhammadu Buhari, whose repeated periods of medical leave
 have nevertheless raised concerns.             
 
 CONGO POLITICS
 The European Union imposed sanctions on nine more Congo
 nationals on Monday over "obstruction of the electoral
 process and related human rights violations" in the central
 African state, where President Joseph Kabila has overstayed
 his mandate.             
 
 CONGO POWER
 Congo Republic inaugurated a $92 million hydroelectric dam
 constructed by China Gezhouba Group Co Ltd 600068.SS on
 Monday, in a boost to the oil-producing country's
 agriculture and forestry sectors, the government said.
             
 ANGOLA POLITICS
 Angolan President Jose Eduardo dos Santos has returned from
 Spain, state-owned news Agency Angop said on Monday,
 following confirmation the 74-year-old was in the European
 country for health checks.             
 
 IVORY COAST ECONOMY
 Ivory Coast, Africa's fastest growing economy last year,
 will issue a $1 billion Eurobond next month, Finance
 Minister Adama Kone told Reuters on Monday, as it deals with
 budget pressure caused by falling cocoa prices and unrest in
 the army.             
 
 KENYA POLITICS
 Kenyan President Uhuru Kenyatta kicked off his official
 campaign for reelection with a rally in Nairobi on Monday,
 echoing a call by main challenger Raila Odinga to avoid the
 violence that followed voting a decade ago.             
 
 KENYA/INDIA TEA
 The price of tea is likely to climb further this year after
 dry weather slashed production of the commodity in key
 suppliers India and Kenya, while recent deadly flooding
 could disrupt shipments from Sri Lanka, another key
 exporter.      

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 KENYA - Central bank keeps benchmark interest rate unchanged 
 at 10%. 

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