#Africa #Markets – Factors to watch on Aug 2

NAIROBI, Aug 2 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Wednesday.
– – – – –
EVENTS:
GLOBAL MARKETS
Asian technology stocks hit 17-year peaks on Wednesday as
blockbuster earnings from Apple rippled out to
component makers globally, helping offset a pullback in the
energy sector.

GLOBAL OIL
Oil prices fell 1 percent on Wednesday, with rising U.S. fuel
inventories pulling U.S. crude back below $50 per barrel,
while ongoing high supplies from producer club OPEC weighed
on international prices.

SOUTH AFRICA MARKETS
South Africa’s rand extended its losses against the dollar on
Tuesday after a warning by Moody’s about political
interference in the country’s economic policy reignited fears
about downgrades of credit ratings.

KENYA MARKETS
Kenya’s central bank sold dollars to banks early on Tuesday,
helping to keep the shilling stable, after it weakened
late in the previous session on concerns about an Aug. 8
national election, traders said.

KENYA ELECTIONS
Protesters marched on the offices of Kenya’s election
commission on Tuesday, demanding a speedy investigation of
the murder of a senior official that has raised fears over
the legitimacy of next week’s national elections.

NIGERIA EQUITIES
Nigeria’s Dangote Industries Limited sold a 2.3 percent stake
in Dangote Cement to foreign investors on
Tuesday in a stock market deal valued at 86.1 billion naira
($236 million).

NIGERIA LOANS
A group of Nigerian banks has agreed an extension to a $1.2
billion loan made to 9mobile, formerly known as Etisalat
Nigeria, pending the mobile operator finding new investors,
FCMB bank said on Tuesday.

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