August 4, 2017 / 4:55 AM / 16 days ago

African 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.
                         
 EMERGING MARKETS
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 AFRICA STOCKS
 For the latest news on African stocks, click on         
 
 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.
                               
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