#Africa #Markets – Factors to watch on Aug 1

NAIROBI, Aug 1 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Tuesday.
– – – – –
EVENTS:
GLOBAL MARKETS
Asian shares ticked up on Tuesday as investors looked to a
barrage of economic data around the world to confirm recent
signs the global economy is in fine fettle with inflation
staying well contained.

GLOBAL OIL
U.S. oil opened above $50 per barrel for the first time since
late May on Monday, supported by strong fuel demand, but
ongoing high supplies from producer club OPEC kept prices
from rising further.

SOUTH AFRICA MARKETS
South Africa’s stocks hit an all-time high on Monday, buoyed
by the recent rally by heavyweights such as Naspers
with sizeable foreign earnings.

KENYA MARKETS
The Kenyan shilling was stable against the dollar on
Monday, with remittances from Kenyans overseas matching
end-month dollar demand from importers, traders said.

NIGERIA OIL
Nigerian scientists will continue to search for oil in the
restive Lake Chad Basin region despite a kidnapping of some
researchers by suspected Boko Haram members, a university and
state oil firm NNPC said on Monday.

NIGERIA RESERVES
Nigeria’s foreign exchange reserves had risen to an almost
three-month high of $30.74 billion by July 27, latest central
bank data showed on Monday.

KENYA POLLS
A senior Kenyan election official was found murdered on
Monday, three days after he went missing, poll officials
said, as opposition leaders warned the killing could plunge
next week’s national vote into turmoil.

TANZANIA MINING
The Tanzanian government and Barrick Gold have
started talks to resolve a tax dispute involving the Canadian
company’s subsidiary Acacia Mining, the president’s
office said on Monday.

GHANA BUDGET
Ghana has lowered its 2017 budget deficit to 6.3 percent of
gross domestic product from 6.5 percent despite a 15 percent
drop in revenues in the first half of the year, its finance
minister said on Monday.

——–//

Kenya – Inflation in July at 7.5% yy (prev 9.2%).

Uganda – Inflation in July at 5.7% yy (prev 6.4%).

South Africa – Growth in M3 for June at 5.96% yy (prev 5.98%),
PSCE at 6.16% yy (prev 6.69%).

——–//

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