July 1, 2019 / 4:51 AM / 3 months ago

African Markets - Factors to watch on July 1

    NAIROBI, July 1 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Monday. 
    - - - - -
 GLOBAL MARKETS
 Stocks rallied and bonds retreated in Asia on Monday as a
 thaw in the Sino-U.S. trade dispute averted one threat to
 the global economy, leading investors to pare wagers on
 aggressive policy easing by the major central banks.
                               
 WORLD OIL PRICES
 Oil prices rose more than $1 a barrel on Monday after Saudi
 Arabia, Russia, Iraq backed an extension of supply cuts for
 another six to nine months ahead of an OPEC meeting this
 week.                     
 
 EMERGING MARKETS
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 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 SOUTH AFRICA MARKETS
 South Africa's rand gained on Friday, helped by improved
 economic data and a dip in the U.S. dollar, ahead of an
 eagerly awaited meeting between the United States and China
 at the G20 summit in Japan.              
 KENYA MARKETS
 The Kenyan shilling        weakened against the dollar on
 Friday due to end month dollar demand from the energy and
 manufacturing sector amid excess liquidity in the local
 money market, traders said.              
 KENYA  ECONOMY 
 Kenya's economic growth slowed in the first quarter of this
 year compared with the same period last year due to dry
 weather which curbed the farming sector, the statistics
 office said on Friday.               
 ETHIOPIA SECURITY   
 Ethiopian authorities on Friday arrested the spokesman of a
 political party promoting the interests of the Amhara ethnic
 group, the party president said, in a move linked to what
 the government has described as a failed regional coup
 attempt.              
 SOMALIA OIL
 Royal Dutch Shell          and Exxon Mobil         are
 looking to return to Somalia ahead of an oil block bid round
 later this year, the East African country's oil ministry
 said.   
 ZAMBIA MINING
 A Zambian court on Friday withdrew an earlier order blocking
 a provisional liquidator at Vedanta's           Konkola
 Copper Mines (KCM) business from disposing of KCM's assets
 or making arrangements with its creditors.              
 ZAMBIA ECONOMY
 Zambian Finance Minister Margaret Mwanakatwe said on Friday
 she was delaying the implementation of a new sales tax from
 July 1 to Sept. 1 to allow it undergo parliamentary
 procedures.              
 
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