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July 4 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.
EVENTS:
Ethiopia’s Prime Minister Abiy Ahmed to appear in parliament to answer wide-ranging questions from lawmakers.
Tanzania’s central bank announces its latest lending rate decision.
After Kenya’s President William Ruto withdrew the contentious finance bill of 2024, anti-government protesters vowed to keep demonstrating as their demands spread to include a call for his resignation.
GLOBAL MARKETS
Asia stocks hit 27-month highs on Thursday as softer U.S. data narrowed the odds on a September rate cut there, boosting bonds and commodities while dragging on the dollar.
WORLD OIL PRICES
Oil prices fell in Asia on Thursday, with investors turning cautious on expectations of lower demand as U.S. employment and business data came in weaker than forecast, signalling the economy of the world’s top oil consumer may be cooling.
SOUTH AFRICA MARKETS
South African assets gained on Wednesday, lifted by optimism over comments by the Federal Reserve chair that reinforced expectations that U.S. interest rate cuts were not far off.
KENYA MARKETS
The Kenyan shilling shrugged off uncertainty caused by nationwide anti-government protests and firmed slightly on Wednesday, bolstered by hard currency inflows from tea exporters and diaspora remittances, traders said.
NIGER SECURITY
Niger’s junta has agreed to talks with Benin’s government, led by two former Benin presidents, to help restore relations after a coup in Niger last year led to the border closing and a China-backed oil pipeline shutting down.
CONGO IMF
The International Monetary Fund said on Wednesday its executive board had concluded a sixth and last review of Congo’s loan program, allowing for an immediate disbursement of about $224.7 million.
((Compiled by Nairobi Newsroom))