July 2, 2019 / 4:44 AM / 2 months ago

African Markets - Factors to watch on July 2

    NAIROBI, July 2 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Tuesday. 
    - - - - -
 GLOBAL MARKETS
 Asian shares wobbled on Tuesday, U.S. Treasury yields fell
 and gold rose as weak global manufacturing activity
 reinforced worries about slowing growth while uncertainties
 over the prospect of a Sino-U.S. trade deal also hurt
 sentiment.                         
 WORLD OIL PRICES
 Oil prices drifted lower on Tuesday, as weak global data
 raised concerns about future demand for the commodity
 despite a positive boost from OPEC's decision to extend
 supply cuts until next March.                   
 
 EMERGING MARKETS
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 AFRICA STOCKS
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 SOUTH AFRICA MARKETS
 South Africa's rand inched firmer on Monday, clinging on to
 a month's worth of gains towards the crucial 14.00 mark
 despite the dollar recovering from its recent slump as trade
 tensions between Washington and Beijing thawed.
                 
 KENYA MARKETS
 The Kenyan shilling        was under pressure against the
 dollar on Monday due to excess local currency liquidity in
 the money market, traders said.             
 KENYA TELECOMS 
 Bob Collymore, the chief executive who helped to turn
 Safaricom Plc           into East Africa's most profitable
 company with an $11 billion valuation, has died after a
 nearly two-year long battle with cancer.    
                 
 IVORY COAST COCOA
 Ivory Coast plans to stamp out illegal cocoa production from
 national parks and forest reserves over the next five years
 to control output better and support a new floor price,
 officials from the government and its cocoa regulator told
 Reuters.               
 ZIMBABWE CURRENCY
 Zimbabweans will be allowed to withdraw up to 1,000 U.S.
 dollars in cash a day from foreign currency accounts,
 Finance Minister Mthuli Ncube said on Monday, as the country
 prepares to relaunch its own currency after a decade of
 dollarisation.               
 
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