#Africa #Markets – Factors to watch on Aug 3

NAIROBI, Aug 3 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Thursday.
– – – – –
EVENTS:
GLOBAL MARKETS
Asian shares slid on Thursday, led by falls in South Korean
tech shares, as investors locked in recent gains after Wall
Street’s Dow Jones Industrial Average broke the 22,000
barrier for the first time in its 121-year history.

GLOBAL OIL
Oil dipped on Thursday as a rally that has pushed up prices
by almost 10 percent since early last week lost momentum
despite renewed signs of a gradually tightening U.S. market.

SOUTH AFRICA MARKETS
South Africa’s rand recovered from three-week lows on
Wednesday as fears of possible credit-rating downgrade eased,
while stocks fell on profit-taking after they reached record
highs.

KENYA MARKETS
The Kenyan shilling was steady on Wednesday, but
traders said it could ease with increased dollar demand from
various sectors as caution sets in ahead of next week’s
polls.

KENYA ELECTIONS
Kenya’s ruling party cannot win next week’s national
elections without rigging the result, opposition leader Raila
Odinga said on Wednesday, adopting a hard-line stance likely
to stoke public fears of violence.

NIGERIA ECONOMY
Nigeria is expected to emerge from recession this year, but
threats to recovery remained elevated and the economy will
not grow enough to reduce unemployment and poverty, the
International Monetary Fund said on Wednesday.

NIGERIA EQUITIES
Nigerian stocks recovered to end slightly higher on
Wednesday, after the country’s biggest listed firm Dangote
Cement recouped early losses.

ZIMBABWE MINING
Zimbabwe has filed a court application to enforce a previous
notice to seize more than half of platinum producer Zimplats’
mining land, the company said on Wednesday.

GUINEA POLITICS
Several thousand opponents of Guinea’s President Alpha Conde
protested in the capital Conakry on Wednesday against
election delays and insecurity, as political tensions
escalate.

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