Reuters
Published Aug 23, 2019 07:02
African Markets - Factors to watch on Aug. 23
The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Friday.
- - - - -
GLOBAL MARKETS
Asian shares struggled to make headway on Friday as
uncertainty over how much further the U.S. Federal Reserve
would cut interest rates added to investors' worries over
slowing global growth. MKTS/GLOB
WORLD OIL PRICES
Oil prices clawed back the previous day's losses on Friday,
with Brent nudging above $60 a barrel, as tighter supplies
from key producers offset slowing demand growth and
investors await clues on the U.S. Federal Reserve's monetary
policy. O/R
EMERGING MARKETS
For the top emerging markets news, double click on
STOCKS
For the latest news on African stocks, click on .J
SOUTH AFRICA MARKETS
South Africa's rand was flat on Thursday, as a boost from
lower-than-expected local inflation was overshadowed by
worries that further U.S. Federal Reserve easing might take
longer than expected. OIL
Nigeria's state oil company on Wednesday lowered the
September official selling price (OSP) for Bonny Light
BON-E and Qua Iboe crude oil QUA-E but raised the OSP on
Egina grade light oil. MARKETS
The Kenyan shilling KES= was stable against the dollar on
Thursday with inflows from portfolio investors buying
government debt easing pressure from oil importer dollar
demand, traders said. MARKETS
The Ugandan shilling UGX= traded in the same position on
Thursday from the previous session as lacklustre importer
appetite for hard currency continued to offer
support. NGOs
Non-governmental organizations in Uganda have been told to
submit financial information including budgets and donor
lists to the authorities, an official told Reuters on
Thursday, in a move rights groups said was another attempt
to muzzle criticism. MINING
Mining companies operating in Mali will no longer be exempt
from value-added tax during production and will only be
protected from fiscal changes for a shorter period,
according to a new mining code announced by the Mines
Ministry on Wednesday. POLITICS
The president of Jubbaland, a Somali region critical to East
Africa's fight against the Islamist militants of al Shabaab,
won a new term on Thursday, highlighting a growing rift
between the federal government and its semi-autonomous
states. POLITICS
Police in Zimbabwe arrested a senior opposition official on
Thursday on charges of failing to stop a banned protest last
week in the capital, his lawyer said. MINING
The Zambian government is determined to "urgently secure" an
investor for Konkola Copper Mines (KCM) once the court
processes over the disputed liquidation of the mine are
concluded, the mines minister said on Thursday. SUDAN OIL
South Sudan has made a small oil discovery in Northern Upper
Nile State, its first since independence in 2011 when
exploration was interrupted by war and instability, the oil
minister said on Thursday. CURRENCIES
The Ugandan shilling UGX= is expected to be firmer next
week, as other African currencies hold steady. For the latest precious metals report click on GOL/
For the latest base metals report click on MET/L
For the latest crude oil report click on O/L
Written By: Reuters
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