#Africa #Markets – Factors to watch on July 24

NAIROBI, July 24 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Monday.
– – – – –
EVENTS:
*ZAMBIA – The statistics office is expected to release July
consumer price index data any time starting today.

——–//

GHANA – Interest rate decision expected.

——//

GLOBAL MARKETS
Asian stocks slipped on Monday as demand for riskier assets
ebbed after their recent strong gains, while the European
Central Bank’s apparent equanimity at the euro’s two-year
highs left the dollar languishing.

GLOBAL OIL
Oil prices gained on Monday after a steep fall the session
before, buoyed by expectations that a joint OPEC and non-OPEC
meeting later in the day may address rising output in Nigeria
and Libya, two OPEC members so far exempt from a push to cut
production.

SOUTH AFRICA MARKETS
South Africa’s rand firmed against a weaker dollar on Friday,
recovering from losses in the previous session after the
central bank unexpectedly cut its benchmark lending rate for
the first time in five years.

KENYA MARKETS
The Kenyan shilling was stable against the dollar on
Friday as demand for dollars by energy importers was
counterbalanced by inflows from flower exporters, traders
said.

KENYA BONDS
Kenya has extended a sale of government bonds via mobile
phones, the finance ministry said on Saturday, after demand
fell far short of the 1 billion shillings targeted.

NIGERIA RATES
Nigeria’s interbank lending rate rose to around 20 percent,
from 5 percent on Thursday, after the central bank sold
treasury bills to mop-up excess liquidity and announced plans
to sell dollars to businesses.

TANZANIA MINING
Tanzania’s President John Magufuli has threatened to shut all
gold mines in the country if mining companies delay talks to
resolve a dispute over billions of dollars in back taxes the
government says they owe.

TANZANIA MINING DISPUTE
Tanzania detained and questioned two senior local Acacia
Mining staff at an airport this week in a dispute
with the government, two sources said on Friday, and the
company said it was having trouble renewing work permits for
foreign staff.

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