NAIROBI, July 3 (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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*ANGOLA – Angola’s state-run oil company Sonangol to hold
MAURITIUS – Inflation data for June expected.
Asian stocks held two-years highs on Monday, starting the
new month on a solid footing after two quarters of gains
while expectations of credit tightening by the world’s major
central banks kept global bond markets under
WORLD OIL PRICES
Oil prices rose on Monday, lifted by the first fall in U.S.
drilling activity in months, although gains were capped by
reports of rising OPEC output last month even as the group
has pledged to cut supply.
SOUTH AFRICA MARKETS
South Africa’s rand slipped to its weakest in three weeks on
Friday as a recovering dollar and a warning by the finance
minister that the country may need outside financial
assistance to get out of an economic spiral weighed heavily
Nigeria’s central bank sold 31.94 billion naira ($104.76
million) in treasury bills on Friday in a bid to tighten
liquidity in the money market while overnight lending rate
fell. Also, stocks fell on Friday after a two-day rally, as
asset managers booked profit ahead of their half-year fund
returns, traders said.
The Kenyan shilling traded flat against the dollar on
Friday with oil importer demand being matched by diaspora
remittances, traders said.
Kenya announced mixed economic news on Friday as inflation
and growth slowed ahead of August elections, relieving
voters plagued by high prices but doing less to burnish the
ruling party’s business-friendly credentials.
The World Bank said on Sunday it had approved a $345 million
loan for the expansion of a port in Tanzania’s commercial
capital Dar es Salaam, which the East African country aims
to turn into a regional gateway.
Mauritius’ current account deficit widened in the first
quarter of 2017 compared with the same period last year,
hurt by a poor trade performance, data from the central bank
showed on Friday.
Tanzania has lifted a ban on foreigners participating in
initial public share offerings in the telecoms industry, the
capital markets regulator said on Friday, a move that will
widen the pool of potential investors for several major
TANZANIA MINING LAWS
Tanzania’s parliament should pass legislation next week that
would allow it to force mining and energy companies to
renegotiate their contracts, the justice minister said on
The Bank of Ghana said the yield on its weekly 91-day bill
rose to 12.3176 percent at an auction on Friday, from
11.9324 percent at the last sale on June 23.