NAIROBI, June 26 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.
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*INFLATION – The statistics offices in both Zambia and Kenya
are expected to release the countries’ consumer price index
data for June any time starting today.
Asian shares edged up on Monday on optimism about global
growth, while the dollar was on the defensive as a subdued
U.S. inflation outlook capped U.S. bond yields and raised
questions about the Federal Reserve’s plans to tighten
WORLD OIL PRICES
Oil prices rose more than 1 percent early on Monday on a
weaker dollar, but another rise in U.S. drilling activity
stoked worries that a global supply glut will persist
despite an OPEC-led effort to curb output.
SOUTH AFRICA MARKETS
South Africa’s rand extended its recent recovery on Friday
as political uncertainty eased and local economic
fundamentals came back in focus, highlighting the currency’s
high return value as investors’ search for high yields
The rates at which Nigeria’s naira currency was traded in
the investor foreign exchange window and black market on
Friday came close to converging, traders said, as the
central bank continued its bid to improve dollar liquidity
in Africa’s biggest economy.
The Kenyan shilling was stable against the dollar on
Friday but was seen easing due to end-month demand from oil
importers, traders said.
Kenya’s central bank said on Friday it planned to extend the
receivership of Imperial Bank by a year to help finalise a
deal with a strategic investor to take a stake in the bank.
Mozambique’s government has not done enough to explain how
$2 billion in loans was spent and roughly a quarter of the
money remains unaccounted for, an independent audit of the
debt showed on Saturday.
Tanzanian security forces have arrested at least 66 people
this week after hundreds of villagers invaded Acacia Mining
Plc’s North Mara gold mine following an escalating
dispute in the east African country’s mining sector.
Angola’s central bank will not consider devaluing the kwanza
currency or introducing changes to the exchange rate regime,
the governor of the bank said on Friday, as Africa’s number
two oil producer struggles with shortages of foreign