June 30 (Reuters) – The following company announcements,
scheduled economic indicators, debt and currency market moves
and political events may affect African markets on Friday.
– – – – –
* South Africa’s ruling party, riven by divisions over the
performance of President Jacob Zuma, opens its national
* Tanzanian businesses react to the introduction of draft
bills that would allow the government to tear up mining and
* Uganda releases inflation figures.
* Nigeria releases figures on its foreign reserves.
The dollar extended its losses on Friday as major central
banks signaled that the era of cheap money was coming to an
end in a boon to sterling, the euro and the Canadian dollar,
while Asian shares were hit by dismal performances of
European and U.S. markets.
WORLD OIL PRICES
Crude oil futures on Friday were on track for their biggest
weekly gain since mid-May, ending five weeks of losses with
prices underpinned by a decline in U.S. output.
SOUTH AFRICA MARKETS
South Africa’s rand weakened on Thursday as better than
expected growth in the U.S. wobbled emerging market
currencies and as jitters set in ahead of the ruling party’s
six-day policy conference starting Friday.
Nigerian stocks rallied for a second day on Thursday to a
one- week high as shares in the relatively liquid banking
sector gained ahead of half-year earnings, traders said.
Nigeria’s state oil company said on Thursday it had agreed a
joint venture to cover the more than $700 million cost of
developing new oil fields in its southern Niger Delta energy
The Kenyan shilling was broadly stable against the
dollar on Thursday but was seen weakening due to demand from
merchandise importers and energy companies, traders said.
TANZANIA LAW MAKING
The Tanzanian government submitted three bills to parliament
on Thursday that would allow it to force mining and energy
companies to renegotiate their contracts, the latest in a
string of moves that have alarmed foreign investors.
The International Monetary Fund (IMF) said it approved an
$86 million credit for Madagascar to help shore up its
U.S. TRAVEL BAN
U.S. President Donald Trump’s administration reversed a
decision late on Thursday and said fiancés would be
considered close family members and therefore allowed to
travel to the United States as its revised travel ban took