#Africa #Markets – Factors to watch on July 28

(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market
moves and political events may affect African markets
on Friday.

GLOBAL MARKETS
Asian stock markets sagged on Friday after U.S. tech shares
retreated from recent rallies, though optimism about U.S.
corporate earnings and the global economy underpinned
overall sentiment.

WORLD OIL PRICES
Oil prices edged lower on Friday but were still near 8-week
highs, buoyed by a decline in U.S. inventories and OPEC’s
ongoing efforts to curb production.

SOUTH AFRICA MARKETS
South Africa’s main stock indices came within sight of
record highs on Thursday only to be repelled by technical
factors, with data showing the market had moved into
overbought territory.

NIGERIA MARKETS
Nigerian stocks extended gains for the 16th straight day on
Thursday, posting their longest winning streak in more than
two-years on improved sentiment following strong half-year
earnings from several listed mid-sized companies, traders
said.

NIGERIA SECURITY
At least 30 people including civilians and members of the
military have died after an attempted rescue of an oil
exploration team kidnapped by suspected Boko Haram militants
in northeast Nigeria, officials told Reuters on
Thursday.

KENYA MARKETS
Kenya’s shilling was steady on Thursday due to
subdued dollar demand from sectors like energy and
manufacturing, traders said.

GHANA BOND
Ghana sold a 1.49 billion cedi ($341.2 mln) five-year
domestic bond on Thursday at a yield of 18.5 percent, lead
arranger Barclays Bank Ghana said.

GHANA ECONOMY
Ghana’s central bank’s 1.5 percent rate cut this week will
boost lending by local banks and is a signal that the
economy is gradually improving, Moody’s Investors Service
said on Thursday.

UGANDA MARKETS
The Ugandan shilling was little changed on Thursday,
and was expected to weaken due to dollar demand from
commercial banks and energy companies, traders
said.

ZIMBABWE POLITICS
Zimbabwe’s first lady, Grace Mugabe, challenged her
president husband Robert on Friday to name his preferred
successor, to end divisions over the future leadership of
the ruling ZANU-PF party.

CONGO POLITICS
The head of Congo’s election commission said on Thursday
that better security in the conflict-ravaged Kasai region
had enabled preparations for a delayed election to replace
President Joseph Kabila, but it still may not happen before
a year-end deadline.

CONGO INFLATION
Democratic Republic of Congo’s central bank said on Thursday
it expects inflation for this year to stand at 44.64
percent, up from a previous forecast of 33.12 percent and a
20 percentage point rise over last year.

CAMEROON DERAILMENT
One person was killed in Cameroon when a freight train
operated by state rail company Camrail derailed, less than
one year after another Camrail train crash killed 79, an
official said on Thursday.

——–//

South Africa – Producer inflation in June at 4% yy (prev 4.8%).

Zambia – Inflation in July at 6.6% yy (prev 6.8%).

——-//

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