June 28, 2019 / 5:03 AM / 18 days ago

African Markets - Factors to watch on June 28

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Friday.
    - - - - -
 EVENTS:
 *Kenya, Mauritius release first quarter 2019 GDP numbers
 
 
 GLOBAL MARKETS
 Asian shares stumbled on Friday amid rising doubts that a
 highly anticipated meeting between U.S. President Donald
 Trump and Chinese President Xi Jin ping this weekend could
 lead to an easing of trade tensions.                       
 
 WORLD OIL PRICES
 Oil prices eased on Friday in a cautious market, as traders
 eyed a scheduled meeting between U.S. President Donald Trump
 and Chinese President Xi Jin ping at the G20 summit and next
 week's OPEC meeting.                 
 
 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 gained on Thursday on hopes the United
 States and China could reach an agreement at the G20 summit
 this week to prevent a further escalation in their trade
 war.            
 
 
 
 
 NIGERIA STOCKS
 Nigerian stocks              dropped to its lowest in five
 weeks on Thursday after heavyweight Dangle Cement
              declined.            
 
 
 
 
 NIGERIA MTN 
 Shares in MTN Nigeria           dropped on Thursday to their
 lowest level since the telecom company listed five weeks
 ago, after a court case about its $2 billion tax dispute
 with the government was adjourned until October.            
 
 
 
 
 KENYA MARKETS
 The Kenyan shilling        weakened against the dollar on
 Thursday as companies in the energy and manufacturing sector
 bought dollars to meet end month obligations, traders
 said.            
 
 
 
 UGANDA MARKETS
 The Ugandan shilling        was a notch firmer on Thursday,
 helped by dollar inflows from charities looking to pay
 month-end salaries and commodity exporters.            
 
 
 
 ZAMBIA MINING
 Vedanta Resources           said on Thursday a Zambian court
 has issued an order halting any move by the provisional
 liquidator of its Gondola Copper Mines (ACM) business to
 dispose of COM's assets or make arrangements with its
 creditors.               
 
 
 
 
 ZAMBIA ELECTRICITY
 Zambia's Tesco Ltd should freeze staff hiring, merge some of
 its departments and take other steps to cut costs and make
 the state power utility more efficient, a government body
 said.            
 
 
 
 
 ETHIOPIA SECURITY
 The Baklava and Cake cafe was heaving with customers when
 truck-loads of heavily armed men in fatigues rolled up
 across the road outside the local government headquarters in
 Ethiopia's Amharic region.                    
 
 
 
 SOCCER MADAGASCAR BURUNDI
 Africa Cup of Nations debutant Madagascar took a giant
 stride towards the next round as Marco Ilaimaharitra
 hammered home a late free kick to beat Burundi 1-0 in their
 Group B match on Thursday.               
 
 
 
 TANZANIA FILM
 Foreign companies filming in Tanzania must give the
 government the right to vet raw footage and let the country
 use the movie in promotional material, according to a bill
 passed by parliament on Thursday.                
 
 
 
 CAMEROON SEPARATISTS
 Switzerland has agreed to mediate talks between Cameroonian
 authorities and separatists in a bid to end escalating
 violence in the country's Anglophobe regions, the Swiss
 government said on Thursday.             
 
 
 
 
 CONGO MINING
 At least 36 illegal miners were killed on Thursday when a
 copper mine owned by Glencore Glen. l collapsed in a
 southeast Congo, the provincial governor said.              
 
 
 
 
 
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