(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market
moves and political events may affect African markets
– – – – –
Nigeria’s central bank announces its decision on interest
The dollar held above a 13-month low on Tuesday after
readings on U.S. factory and services activity beat
expectations ahead of the start of a Federal Reserve meeting
later in the day, but Asian stocks were subdued with few
catalysts to drive them.
WORLD OIL PRICES
Australian shares rebounded on Tuesday, helped by a rally in
oil prices after leading OPEC producer Saudi Arabia vowed to
limit exports from next month while investors turned their
focus to the U.S. Federal Reserve’s meeting starting later
in the day.
SOUTH AFRICA MARKETS
South Africa’s rand backtracked against the dollar on Monday
as forward momentum faded in the face of technical
resistance levels and a lack of local data releases to drive
Nigerian stocks climbed to more than two year highs on
Monday, lifted by gains in Dangote Cement as
investors piled into the shares in anticipation of its
OPEC moved on Monday to cap Nigerian oil output and called
on several members to boost compliance with production cuts
to help clear excessive global stocks and support flagging
Shell’s Nigerian subsidiary has shut its 180,000
barrel-per-day Trans Niger pipeline in Nigeria due to a
leak, the company said in a statement on Monday, effectively
shutting in exports of Bonny Light crude oil.
The Kenyan shilling eased on Monday due to dollar
demand from the manufacturing sector, traders
Kenyan opposition presidential candidate Raila Odinga on
Monday fielded questions alone on stage after his rival,
President Uhuru Kenyatta, failed to show up for a debate
between the two.
Kenya Airways said on Monday one of its aircraft
was damaged when a tow truck that was going to pull it from
a parking bay hit the plane’s body and engine.
The Ugandan shilling was unchanged on Monday,
underpinned by subdued dollar demand from both commercial
banks and importers.
Ghana’s central bank cut its benchmark interest rate by 150
basis points to 21.0 percent on Monday, citing a downward
trend in consumer inflation and the potential for higher
economic growth on increasing oil output.
Zambia will export 100,000 of maize to three east African
states facing a shortage, with the bulk of the grain going
to Kenya, a government official said on Monday.
IVORY COAST COCOA
Cocoa arrivals at ports in top grower Ivory Coast had
reached around 1.926 million tonnes by July 23 since the
start of the season on Oct. 1, exporters estimated on
Monday, up from 1.431 million tonnes in the same period last
South Africa’s Tongaat Hulett said on Monday it
will build a refinery at its Mozambican sugar mill to
process brown sugar into white sugar, in a country which has
a shortage of refined white sugar.
Development of a new 1.35 million tonne per annum coal mine
in Botswana has stalled due to a dispute over compensation
payable to farmers holding surface rights in the proposed
mining area, the company developing the mine said on
Tanzania has issued a notice demanding $190 billion in
unpaid taxes, penalties and interest from Acacia Mining,
the gold mining company said on Monday, adding it
did not believe it owed the money.