NAIROBI, July 7 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.
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*Seychelles to release consumer inflation data for June.
*MAURITIUS – The central bank auctions 182-day Treasury bills
worth a total 700 million rupees.
SOUTH AFRICA – Gross gold & FX reserves data for June due.
Asian shares lost ground on Friday after a weak session on
Wall Street, while global sovereign debt yields were elevated
across the board on bets the European Central Bank is moving
ever closer towards unwinding its massive monetary
WORLD OIL PRICES
Oil prices fell by more than 1 percent early on Friday, with
U.S. crude futures dipping below $45 per barrel as news of a
rise in U.S. production added to earlier reports that OPEC
output was also on the rise.
The Tanzanian shilling is expected to remain firm in the days
ahead, buoyed by a slowdown in demand for U.S. dollars, while
Kenya’s shilling is expected to weaken due to demand from oil
and merchandise importers buying dollars.
SOUTH AFRICA MARKETS
South Africa’s rand weakened on Thursday as investor fretted
over policy uncertainties including the independence of the
central bank, although traders eyeing short positions and
betting on further weakness helped it claw back some
The Kenyan shilling weakened on Thursday due to
increased importer dollar demand, traders said.
Italian oil company ENI started oil production from
the 45,000 barrel-per-day Sankofa field offshore Ghana on
Thursday, giving a boost to the West African country’s plans
to use its oil resources to revive its economy.
Gambia’s Oil Minister said on Thursday he planned to seek
legal advice over a disagreement with Oslo-listed African
Petroleum concerning the status of two off-shore exploration
IVORY COAST COCOA
Ivory Coast, the world’s top cocoa grower, had sold forward
about 1.1 millions tonnes of its 2017/18 production by July 4
and aims to auction 1.2 million tonnes by the end of
September, two sources involved in the process said on