#Africa #Markets – Factors to watch on June 5

NAIROBI, June 5 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.
– – – – –
The dollar inched up from a seven-month low hit after U.S.
jobs growth in May missed expectations, while sterling fell
after the attacks in London that killed at least seven
people and wounded 48, just days before Thursday’s national

Oil markets rose more than 1 percent on Monday, pushed up by
tensions in the Middle East where top crude exporter Saudi
Arabia and other Arab states cut off ties with Qatar, and as
signs of falling OPEC supplies tightened the market.

South Africa’s rand strengthened on Friday ahead of a second
ratings decision in as many days, helped by a dollar sunk by
a disappointing jobs report that dimmed bets of a U.S. rate
hike in the second half of the year.

Nigeria stocks extended their rally for the fourth
consecutive day on Friday, lifted to a 21-month high by
gains in the banking sector while the local currency
appreciated on the black market on improved dollar supply.

Nigeria issued its first Forcados oil loading plan since
2016, putting the nation’s June oil exports on track to hit
their highest level in at least 15 months.

West African neighbours Ivory Coast and Ghana, the world’s
top cocoa producers, are to set up a joint industry body,
according to a document to be signed by the heads of their
marketing boards on Friday.

Ghana’s gold output jumped 45 percent in 2016 compared to
the previous year as new projects came online and activities
expanded across the industry, the Ghana Chamber of Mines
said in a report on Friday.

Barclays announced the sale of its Zimbabwe bank to
Malawi-listed First Merchant Bank on Friday as the
British lender continues its exit from Africa.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.