NAIROBI, July 22 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.
GLOBAL MARKETS
Asian shares slid anew on Monday, getting little lift from a surprise rate cut by China’s central bank, while Wall Street futures firmed in the wake of President Joe Biden’s decision to bow out of the election race.
WORLD OIL PRICES
Oil prices rose in early trade on Monday as investors keep a lookout for signs of a rate-cut cycle expected to begin as soon as September.
SOUTH AFRICA MARKETS
South Africa’s rand weakened against the dollar on Friday, weighed down by risk-off sentiment as a worldwide cyber outage cut across sectors and worried investors.
NIGERIA PETROLEUM
Nigeria’s Dangote refinery is in talks with Libya to secure crude for the 650,000 barrels per day (bpd) plant and will also seek Angolan oil, a senior executive said, as it seeks to overcome problems with domestic supplies.
NIGERIA META
Nigeria fined Meta Platforms $220 million, its competition watchdog said on Friday, after investigations showed data-sharing on social platforms violated local consumer, data protection and privacy laws.
KENYA MARKETS
Kenya’s shilling was stable on Friday but faced pressure from interbank foreign currency demand amid thin supply, traders said.
KENYA POLITICS
Kenyan President William Ruto on Friday mostly named holdovers from the cabinet he sacked last week to a new government meant to respond to the grievances of young protesters.
DEMOCRATIC REPUBLIC OF CONGO MINING
The governor of Democratic Republic of Congo’s South Kivu province has suspended all mining activities in the restive region and ordered companies and operators to leave mining sites, he said on Friday.
ANGOLA CENTRAL BANK RATE
Angola’s central bank kept its main interest rate at 19.5% on Friday, citing a potential slowdown in inflation and an improvement in the supply of essential goods in the near term.
((Compiled by Nairobi Newsroom))
