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Africa, Forex

African Markets – Factors to watch on July 22

NAIROBI, July 22 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. – – – – – *Tuesday was a public holiday for observance of Eid al-Adha in some African countries including Kenya, Nigeria and South Africa. Markets reopened on Wednesday in Kenya and South Africa but remained closed on Wednesday in Nigeria. GLOBAL MARKETS Asian stocks rallied on Thursday, bonds nursed losses and oil held onto sharp gains as investors seemed to set aside virus jitters for now and looked ahead to the European Central Bank for reassurance that policy support will continue for some time. WORLD OIL PRICES Oil prices fell on Thursday after an unexpected rise in U.S. crude oil inventories and as rising COVID-19 infections threaten demand, but prices held on to most of their gains from the previous session on expectations that supplies will remain tight through year-end. 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 extended its losses against the U.S. dollar early on Wednesday, as fears that the highly contagious Delta coronavirus variant may stall a global economic recovery drove investors to safer assets. KENYA MARKETS The Kenyan shilling KES= was stable on Wednesday, trading at the same level as Monday’s close, traders said, citing dollar inflows that were evenly matched with subdued demand from importers. COVID-19 VACCINES Pfizer PFE.N and BioNTech 22UAy.DE have struck a deal for South Africa’s Biovac Institute to help manufacture around 100 million doses a year of their COVID-19 vaccine for the African Union, the firms said on Wednesday. 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)


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