#Africa #Markets – Factors to watch on June 27

NAIROBI, June 27 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.
– – – – –
EVENTS
*RWANDA – central bank to announce its key policy rate.

GLOBAL MARKETS
Japanese stocks edged towards two-year highs on Tuesday as
exporters benefitted from dollar strength, with investors
expecting comments from Federal Reserve Chair Janet Yellen
to support the Fed’s projection for one more interest rate
rise this year.

WORLD OIL PRICES
Crude oil futures rose for a fourth consecutive session on
Tuesday as investors covered short positions, though worries
over a festering supply glut kept a lid on prices.

SOUTH AFRICA MARKETS
South Africa’s rand gained on Monday for a third straight
session as fading expectations that the U.S. Federal Reserve
will hike interest rates again this year kept investors keen
on emerging market currencies.

NIGERIA POLITICS
Nigerian President Muhammadu Buhari has delivered an audio
message to mark the Islamic Eid al-Fitr holiday, a senior
aide said on Monday, in his first public statement since he
left for Britain on medical leave on May 7.

KENYA POLITICS
Kenya’s ruling party promised to expand free education and
healthcare in a manifesto published on Monday, but did not
acknowledge problems in existing social services that have
triggered strikes as elections approach.

TANZANIA REVENUES
Tanzania may have to delay the construction of some of its
major infrastructure projects because its revenue
expectations for 2017/18 are “potentially over-optimistic”,
the International Monetary Fund said on Monday.

GHANA COCOA
Up to 80,000 tonnes of cocoa beans have been smuggled into
Ghana from neighbouring Ivory Coast since the start of
April, as Ivorian growers take advantage of higher prices in
the neighbouring country, exporters said on Monday.

ZIMBABWE AGRICULTURE
Zimbabwe’s government has signed a $478 million agreement
with an energy company and three banks to finance the
2017/18 summer farming season in a push to improve food
security, a state-owned newspaper said on Monday.

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