#Africa #Markets – Factors to watch on Aug 4

NAIROBI, Aug 4 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Friday.
– – – – –
EVENTS:
*RWANDA – Rwandans go to the polls to elect their next
leader, with incumbent, Paul Kagame, expected to secure a
clean sweep of the votes and extend his rule for another
seven years.

GLOBAL MARKETS
Asian stocks inched up on Friday after a technology-led drop
on Wall Street, while U.S. Treasury yields and the dollar
were pressured by news Special Counsel Robert Mueller had
issued grand jury subpoenas in his investigation of alleged
Russian interference in the 2016 U.S. elections.

GLOBAL OIL
Oil markets dipped on Friday, with U.S. crude remaining below
$50 per barrel, restrained by rising output from the United
States as well as producer club OPEC.

SOUTH AFRICA MARKETS
South Africa’s rand slipped to three-week lows against the
dollar on Thursday, erasing most of the previous session’s
gains in a cautious market as a vote on a motion of
no-confidence against President Jacob Zuma drew closer.

KENYA MARKETS
The Kenyan shilling was firmer on Thursday, as dollar
supplies improved, boosted by a sell-off of hard currency by
commercial banks looking to cope with a liquidity squeeze.

KENYA ELECTION
Passengers jostled with ticket touts and hawkers at Kenya’s
main bus stations on Thursday as thousands started leaving
cities before next week’s vote, some because they are
registered in rural wards, others because they are scared of
violence.

KENYA ECONOMY
Kenya’s private sector activity contracted for the third
consecutive month in July, but at a slower pace, as firms
took a cautious stance ahead of national elections next week,
a survey showed on Thursday.

NIGERIA ECONOMY
Nigeria and the International Monetary Fund disagree over how
much the economy will grow this year, with the government
saying 2.2 percent and the Fund opting for just 0.8 percent.

NIGERIA OIL
Nigeria’s state oil company said on Thursday it had signed
financing agreements with Chevron and Shell
worth at least $780 million to boost crude production and
reserves.

NIGERIA FOREIGN EXCHANGE
Nigerian banks have started showing investors price quotes
for the country’s currency, the naira, on screens instead of
giving them by phone, traders said.

ZAMBIA POLITICS
Police arrested a Zambian opposition leader on Thursday and
said he would be charged with defaming President Edgar Lungu,
an offence that carries a maximum five-year prison term.

———//

Ethiopia – Inflation in July at 9.4% yy (prev 8.8%).

——-//

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