African Markets - Factors to watch on June 18
NAIROBI, June 18 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
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Asian shares fell on Monday after U.S. President Donald Trump cranked up trade
tensions by going ahead with tariffs on Chinese imports, prompting Beijing to
immediately respond in kind.
WORLD OIL PRICES
U.S. oil prices slumped on Monday after China threatened duties on American
crude imports in an escalating trade dispute with Washington.
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SOUTH AFRICA MARKETS
South Africa's rand hovered near a six-month low early on Friday after slipping
in the previous session following poor mining data and as power firm Eskom
started controlled electricity outages because of a wage dispute with labour
Nigerian stocks touched a one-week low on Thursday as investors sold shares
across the board following a hawkish outlook from the U.S. central
Nigerian President Muhammadu Buhari will sign the government's long-delayed
budget into law on Tuesday, Information Minister Lai Mohammed said on
The Kenyan shilling held steady against the dollar on Thursday due to
lacklustre demand from importers although high liquidity of the local currency
in money markets was seen as reducing demand for the shilling, traders
Kenya's Finance Minister Henry Rotich on Thursday said he would propose
repealing a cap on commercial lending rates, a move cheered by bankers who had
said the ceiling had hurt credit growth and access.
The United Arab Emirates pledged a total of $3 billion in aid and investments
to Ethiopia on Friday, an Ethiopian official said, a major show of support for
the new prime minister, Abiy Ahmed.
SOMALIA, ETHIOPIA PORTS
Somalia and Ethiopia announced they were jointly investing in four seaports to
attract foreign investment to their two countries, the latest move in a tussle
for access to ports along one of the world's most strategic
SIERRA LEONE PETROLEUM
Seeking to capitalise on higher oil prices, Sierra Leone has extended the
deadline of a fourth oil licensing round for five deep water offshore blocks
until September 27, officials told Reuters.
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