Views Article – Sharenet Wealth

Africa, Forex

African Markets – Factors to watch on July 20

NAIROBI, July 20 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. – – – – – *Tuesday is a public holiday for observance of Eid al-Adha in some African countries including Kenya, Nigeria and South Africa. Markets are closed for the public holiday. GLOBAL MARKETS Asian stocks were down early on Tuesday as growing fears the spreading Delta variant of the coronavirus would harm the global economic recovery sent riskier assets, including oil, skidding sharply. WORLD OIL PRICES Oil prices stabilised on Tuesday after slumping around 7% in the previous session amid a broader market retreat led by concerns about a resurgence of COVID-19 infections, which came just as producers inked a new supply deal. 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 weakened on Monday on the back of a strong dollar as investors rushed to the greenback due to a global surge in coronavirus cases. KENYA MARKETS The Kenyan shilling KES= was stable on Friday, amid an increase in demand for dollars from energy importers as inflows slowed, traders said. ETHIOPIA CONFLICT Forces from Ethiopia’s northern Tigray region have mounted attacks in neighbouring Afar region, a spokesman for Afar said on Monday, marking an expansion of an eight-month-old conflict into a previously untouched area. SOUTH AFRICA POLITICS Former South African president Jacob Zuma, whose jailing earlier this month triggered some of the worst unrest of the post-apartheid era, appeared by video link in court on Monday to seek a further delay in his corruption trial. NIGERIA INSECURITY Nigeria’s broadcasting regulator has asked TV stations to curb their reporting of insecurity in the country by withholding details of incidents and victims, in what a leading civil society group described as a “sweeping gag order”. SOUTH AFRICA MARKETS South Africa’s rand and local stocks dropped on Monday, as concerns about the rapid global spread of the Delta coronavirus variant drove investors to seek comfort in the U.S. dollar and precious metal prices fell. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on Compiled by Nairobi Newsroom Email: nairobi.newsroom@thomsonreuters.com (Compiled by Nairobi Newsroom Email: nairobi.newsroom@thomsonreuters.com)


© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.