July 21, 2017 / 6:29 AM / 2 months ago

African Markets - Factors to watch on July 21

    NAIROBI, July 21 (Reuters) - The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Friday.
    - - - - -
 GLOBAL MARKETS
 The euro held near two-year highs against the dollar on
 Friday after the head of the European Central Bank said
 tapering of its stimulus will be on the table this autumn,
 while a solid global economic outlook kept Asian share prices
 near decade highs.                        
 GLOBAL OIL    
 Oil prices were little changed on Friday ahead of a key
 meeting of major oil producing nations next week, with Brent
 sitting below the $50 per barrel level that was briefly
 breached for the first time in six weeks in the previous
 session.                  
 
 EMERGING MARKETS
 For the top emerging markets news, double click on           
 
 AFRICA STOCKS
 For the latest news on African stocks, click on         
 
 SOUTH AFRICA MARKETS
 South Africa's rand shed as much as one percent against the
 dollar on Thursday after the central bank unexpectedly cut
 its benchmark lending rate for the first time in five
 years.            
 
 KENYA MARKETS
 enya's central bank sold dollars on Thursday in foreign
 exchange market to support the shilling       , traders said.
 At 1110 GMT, commercial banks quoted the shilling at
 103.75/85 to the dollar, compared with Wednesday's close of
 103.65/85.             
 
 KENYA ELECTIONS
 Kenya's electoral body says it is facing more than 300 court
 cases from candidates, parties and civil society groups
 before elections on Aug. 8, raising concern about whether the
 disputes can be resolved in time.              
 
 NIGERIA LENDERS
 A Nigerian court has ordered seven local banks to transfer a
 total of $793.20 million due to the government immediately
 after the lenders withheld monies they collected on behalf of
 the state, a government lawyer told Reuters on Thursday.
             
 
 NIGERIA CORRUPTION        
 A Nigerian court has ordered the temporary seizure of a $37.5
 million property owned by a former oil minister, the state
 news agency said, the latest move related to graft
 allegations against a lynchpin of the last administration. 
               
 
 SOUTH AFRICA MINING
 South Africa intends to suspend the granting of applications
 for prospecting and mining rights as well as any renewals
 pending a court case to review new mining laws, the Mineral
 Resources Minister Mosebenzi Zwane said on Thursday.
             
 
 SOUTH AFRICA REPO
 South Africa's central bank unexpectedly cut its benchmark
 lending rate for the first time in five years on Thursday,
 citing weak growth and easing inflation, and denied any
 pressure from recent political attacks on its
 mandate.            
 
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