#Africa #Markets – Factors to watch on July 12

NAIROBI, July 12 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Wednesday.

——–//

NAMIBIA – Inflation data for June expected.

GHANA – Inflation data for June due.

——–//

GLOBAL MARKETS
Asian shares gained on Wednesday after Wall Street managed to
weather a fresh twist in the controversy over U.S. President
Donald Trump’s alleged connection with Russia, while
investors looked ahead to Federal Reserve Chair Janet
Yellen’s comments.

WORLD OIL PRICES
Oil prices rose more than 1.5 percent on Wednesday, extending
gains from the previous day as the U.S. government cut its
crude production outlook for next year and as fuel
inventories plunged.

SOUTH AFRICA MARKETS
South Africa’s rand weakened on Tuesday, following in the
footsteps of its emerging markets peers on looming threats
about tighter global monetary conditions.

SOUTH AFRICA CENTRAL BANK
The South African Reserve Bank (SARB) said on Tuesday it is
proceeding with its legal challenge to the Public Protector’s
findings over an apartheid-era bailout of a bank subsequently
bought by Absa, now a unit of Barclays Africa Group.

SOUTH AFRICA INDUSTRY
South Africa’s manufacturing output fell 0.8 percent
year-on-year in May, contracting less than expected, after
falling by 4.2 percent in April, Statistics South Africa said
on Tuesday.

NIGERIA ECONOMY
Nigeria must not borrow more to fund its budget and should
instead raise money it needs by other means, the country’s
finance minister said on Tuesday, calling into question
planned foreign loans of $2 billion from lenders like the
World Bank.

NIGERIA POLITICS
Nigerian Vice President Yemi Osinbajo was in London on
Tuesday, spending an hour at the country’s High Commission
where President Muhammadu Buhari has spent much of the past
two months on medical leave.

ZAMBIA POLITICS
Zambia’s parliament voted on Tuesday to extend the state of
emergency by three months, the presidency office said, as
tensions rose following the arrest of the main opposition
leader.

SUDAN POLITICS
The United States on Tuesday postponed for three months a
decision on whether to permanently lift sanctions on Sudan
over its human rights record and other issues, the U.S. State
Department said.

CONGO POLITICS
The United States on Tuesday threatened to impose further
targeted unilateral sanctions on anyone who hinders
Democratic Republic of Congo’s already delayed preparations
for an election to replace President Joseph Kabila.

MOZAMBIQUE ECONOMY
An International Monetary Fund (IMF) delegation landed in
Mozambique on Tuesday to follow up on a damning external
audit of $2 billion of controversial borrowing by companies
controlled by the southern African nation’s intelligence
services.

NIGERIA CEMENT
Nigeria’s Dangote Cement plans to invest about $4
billion in the next two to three years to nearly double its
production capacity in Africa, a senior executive told
Reuters on Tuesday.

———//

South Africa – Manufacturing production in May at -0.8% yy
(prev -4.2% rev).

——–//

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.