#Africa #Markets – Factors to watch on July 20

NAIROBI, July 20 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Thursday.
– – – – –
EVENTS:
* ZIMBABWE – Finance minister presents annual budget review
statement in parliament.

——-//

SOUTH AFRICA – Interest rate decision expected.

——-//

GLOBAL MARKETS
Asian shares scaled a near-decade peak on Thursday, bolstered
by a surge in global stocks to new records on strong U.S.
corporate earnings, while the yen eased slightly after the
Bank of Japan reinforced expectations it will lag other
central banks in dialling back stimulus.

GLOBAL OIL
Oil prices held steady on Thursday following solid gains the
previous day when falling U.S. fuel inventories lifted the
market. However, Brent crude oil prices remain below the key
$50 per barrel mark on concerns about high supplies from
producer club OPEC despite a pledge to cut output in a bid to
tighten the market.

SOUTH AFRICA MARKETS
South Africa’s rand retreated on Wednesday despite better
than anticipated inflation and retail figures, as some
investors booked recent profits ahead of an interest rate
decision on Thursday. Stocks firmed as platinum miners lifted
the bourse.

KENYA MARKETS
The Kenyan shilling inched down against the dollar on
Wednesday and traders said it was likely to remain within a
narrow band in the days ahead.

NIGERIA TELECOMS
Telecoms group 9mobile is open to new investors but will
continue to manage the business in the meantime, its chief
executive said on Wednesday at an event to officially
announce the company’s new name to replace Etisalat Nigeria.

CAMEROON SECURITY
Cameroonian forces have been torturing suspects in their
campaign against Islamist group Boko Haram, with much of the
torture happening at a base that has also been used by
American and French troops, Amnesty International said on
Thursday.

MALAWI CORRUPTION
Malawi’s former agriculture minister, George Chaponda, was
arrested on Wednesday and faces graft charges over a
procurement contract with neighbouring Zambia, his lawyer and
the country’s Anti-Corruption Bureau said on Wednesday.

ETHIOPIA STRIKE
Retail business owners in some towns of Ethiopia’s Oromiya
region have gone on strike over the imposition of a revised
tax law, residents said, the latest unrest to plague a
province that was shaken by violence for months in 2015 and
2016.

———//

South Africa – Retail sales in May at 1.7% yy (prev 2% rev)

South Africa – Inflation in June at 5.1% yy (prev 5.4%).

——-//

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