NAIROBI, July 19 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
SOUTH AFRICA – Consumer inflation data for June retail sales data
for May expected.
The dollar stayed on the defensive on Wednesday as investors
wagered any further tightening in the United States would be
slow at best, while optimism on China’s economy underpinned
Asian shares and commodities.
The U.S. currency was near multi-month lows after the
collapse of the Republicans’ push to overhaul healthcare
dealt a blow to President Donald Trump’s ability to pass
promised tax cuts and infrastructure spending.
Oil prices fell on Wednesday after a rise in U.S. crude
inventories and ongoing high output from OPEC producers
revived concerns of a fuel supply overhang.
SOUTH AFRICA MARKETS
South Africa’s rand added to recent gains on Tuesday,
remaining in favour with investors in search of higher yields
as the dollar eased on dimming hopes of interest rate hikes
The Kenyan shilling was firm against the dollar on
Tuesday, and traders expected the trend to continue after
intervention by the central bank, saying the bank appeared to
have drawn a line in the sand.
Nigeria’s central bank has extended guarantees to Skye Bank
for another year while it considers the bank’s
recapitalisation proposal, the mid-tier lender said in a
Egyptian security forces killed a prominent Islamic State
militant on Tuesday suspected of being involved in recent
attacks in North Sinai, an Interior Ministry statement
Ghana said on Tuesday it will not extend its three-year aid
programme with the International Monetary Fund beyond April
2018, but the IMF urged it to do so to give it time to
complete the programme’s goals.
Ethiopia plans to offer shares to private investors in its
road-building and maintenance projects, its finance minister
said on Tuesday, the latest step to open up and modernise the
Democratic Republic of Congo’s central bank has announced new
financial penalties for companies that fail to repatriate at
least 40 percent of their revenue from mineral exports, a
decree seen by Reuters on Tuesday showed.