#Africa #Markets – Factors to watch on Aug 11

(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market
moves and political events may affect African markets
on Friday.
– – – – –
EVENTS:
*Uganda’s central bank announces key policy rate

GLOBAL MARKETS
Asian equity markets extended a global slide on Friday as
tensions ramped up between the United States and North
Korea, sending investors fleeing to less risky assets such
the yen, the Swiss franc and U.S.
Treasuries.

WORLD OIL PRICES
Oil prices fell on Friday, dragged lower by persistent
worries about oversupply despite a bigger-than-expected
drawdown in U.S. crude inventories.

SOUTH AFRICA MARKETS
South African stocks pulled away from record highs on
Thursday as rising tensions on the Korean peninsula drove
investors to limit risks and shift to safe
havens.

AFRICA CURRENCIES
Kenya’s local currency is expected to be stable or firm up
as election-related uncertainty lingers, while Nigeria’s
naira could post gains as offshore inflows boost dollar
liquidity.

KENYA ELECTION
Celebrations broke out in pockets of Kenya on Thursday after
the opposition said its candidate Raila Odinga should be
declared winner of the presidential vote, a claim an
election commission official said was
“ridiculous”.

UGANDA MARKETS
The Ugandan shilling firmed on Thursday, helped by
sagging demand for dollars from both commercial banks and
importers.

TANZANIA ECONOMY
Tanzanian growth slowed to 5.7 percent in the first quarter
of this year, hurt by slower-than-expected performance of
construction, transport, agriculture and the financial
services sectors, the statistics office said on
Thursday.

RWANDA INFLATION
Rwanda’s inflation fell to 3.5 percent year-on-year in July
from 4.8 percent a month earlier, the National Bureau of
Statistics said on Thursday.

CONGO VIOLENCE
At least 27 people, including three police officers, were
killed in clashes between protesters and police in
Democratic Republic of Congo earlier this week, Human Rights
Watch said on Thursday.

——-//

SOUTH AFRICA – Mining production in June at -0.8% yy (prev 4.1% rev)

SOUTH AFRICA – Manufacturing production in June at -2.3% yy
(prev -0.9% rev)

ZAMBIA – Central bank cuts benchmark rate by 150bps to 11%

NAMIBIA – Inflation in July at 5.4% yy (prev 6.1%)

——–//

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