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Africa, Forex

African Markets – Factors to watch on June 9

NAIROBI, June 9 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. – – – – – EVENTS: *Ghana’s statistics office to release consumer inflation data for May. GLOBAL MARKETS World stock prices held near record highs on Wednesday, while U.S. bond yields flirted with their lowest levels in a month, as investors bet the Federal Reserve is some way off from tapering its economic stimulus. WORLD OIL PRICES Oil prices rose for a second day on Wednesday on signs of strong fuel demand in Europe, while the prospect of a near-term return of Iranian oil supply faded as the U.S. secretary of state said sanctions against Tehran were unlikely to be lifted. 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 dipped slightly against the dollar on Tuesday, as a recovering dollar put the brakes on the currency’s recent rally despite better-than-expected economic growth data. KENYA MARKETS Kenya’s shilling was stable on Tuesday and traders said it was expected to weaken due to increased dollar demand from the energy sector and food importers. ETHIOPIA TELECOMS Kenyan President Uhuru Kenyatta on Tuesday urged Ethiopia to open up its telecoms sector to private mobile money business investors, a move that would complement a process already underway to reform the sector and bring in foreign investment. SENEGAL ECONOMY The International Monetary Fund (IMF) has approved $650 million in aid to Senegal to support the West African country’s COVID-19 recovery, it said in a statement late on Monday. MOZAMBIQUE MINING Miner Vale SA will settle in advance liabilities of around US$2.5 billion related to the project finance for the Nacala logistic corridor (CLN) that serves a coal mine in Mozambique, the company said in a securities filing on Tuesday. IVORY COAST COCOA The world’s top cocoa producer Ivory Coast had sold 950,000 tonnes of cocoa in contracts by the end of May for the 2021/2022 season at a country discount instead of its usual country premium, regulator and industry sources said on Tuesday. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on


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