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African Markets - Factors to watch on Aug.9

NAIROBI, Aug 9 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Thursday.
- - - - -
EVENTS:
*Tanzania to release consumer inflation data for July.

GLOBAL MARKETS
Asian share markets found support on Thursday as a rally in
Chinese stocks helped offset the latest escalation in the
Sino-U.S. trade war, while Russia's rouble tumbled as the United
States slapped fresh sanctions on the
country.

WORLD OIL PRICES
Oil prices rebounded on Thursday after heavy losses in the
previous session that came as the China-U.S. trade dispute
escalated, with official Chinese data indicating energy demand
in the world's top importer has yet to recover its
strength.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa's rand retreated on Wednesday ahead of a bank
holiday on Thursday, with investors booking profits from the
previous session's rally and closing positions as the dollar
bounced back on the latest U.S. and China trade war
twist.

KENYA MARKETS
The Kenyan shilling was firm on Wednesday due to thin
demand and tight liquidity in the money market increasing
interbank demand for the local currency, traders
said.

KENYA PETROLEUM
Tullow Oil and the Kenyan government have agreed to
resume work at Tullow's oilfields where work to truck crude oil
had stopped for more than a month after protests by the
community, a senior petroleum ministry official
said.

TANZANIA TELECOMS
Tanzania's telecommunications regulator intends to suspend the
licence of Multichoice, owned by South Africa's Naspers
, for continuing to carry free-to-air channels.


DEMOCRATIC REPUBLIC OF CONGO POLITICS
Congo's President Joseph Kabila will not stand in the election
scheduled for December, a spokesman said, finally agreeing to
obey a two-term limit but picking a hard-core loyalist under
European Union sanctions to stand instead.

ZIMBABWE POLITICS
Former Zimbabwean finance minister and opposition politician
Tendai Biti has been detained by police as he tried to cross the
border and seek asylum in neighbouring Zambia, his lawyer said
on Wednesday.

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2018-08-09 06:42:32

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