
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="(max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, July 29 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.</p>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>*Ethiopian Airlines Group expected to release its full year financial results for the period to end June.</p>



<p>*MOZAMBIQUE &#8211; London&#8217;s High Court will rule on Mozambique&#8217;s $3.1 billion lawsuit against Emirati-Lebanese shipbuilder Privinvest over the fallout from the decade-old &#8220;tuna bond&#8221; scandal, after a civil trial last year.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian shares bounced on Monday into a week packed with earnings and a trio of central bank meetings that could see the United States and UK open the door to easing, while Japan might lift borrowing costs in a step toward &#8220;normality&#8221;.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices rose on Monday, paring last week&#8217;s loss, on fears of a widening conflict in the Middle East following a rocket strike in the Israeli-occupied Golan Heights, which Israel and the United States blamed on Lebanese armed group Hezbollah.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>The South African rand gained in early trade on Friday, as markets focused on a key U.S. inflation reading that could offer more cues on the Federal Reserve&#8217;s future interest rate path.</p>



<h2 class="wp-block-heading" id="h-nigeria-markets">NIGERIA MARKETS</h2>



<p>Nigeria&#8217;s central bank has sold $148 million in foreign exchange to 29 authorised dealer banks in the spot market to ease demand pressure, it said on Friday.</p>



<h2 class="wp-block-heading" id="h-nigeria-petroleum">NIGERIA PETROLEUM</h2>



<p>Nigeria&#8217;s major Dangote oil refinery is reselling cargoes of U.S. and Nigerian crude, four trade sources familiar with the matter said on Friday.</p>



<h2 class="wp-block-heading" id="h-nigeria-politics">NIGERIA POLITICS</h2>



<p>Days before a nationwide protest over bad governance and a high cost of living, Nigeria is offering its young people jobs in the state-oil company and billions of naira worth of grants among other incentives to discourage the action.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>Kenya&#8217;s shilling gained ground on Friday, helped by dollar inflows from tea exporters, trader said.</p>



<h2 class="wp-block-heading" id="h-ethiopia-economy">ETHIOPIA ECONOMY</h2>



<p>Ethiopia&#8217;s central bank on Monday removed restrictions on the foreign currency market, it said, a crucial step towards securing funding from the International Monetary Fund and making progress on a long-delayed debt overhaul.</p>



<h2 class="wp-block-heading" id="h-uganda-politics">UGANDA POLITICS</h2>



<p>Police in Uganda arrested 104 people during anti-corruption protests this week and almost all of them have been charged with public order offences, a police statement said late on Friday.</p>



<h2 class="wp-block-heading" id="h-ghana-central-bank-rate">GHANA CENTRAL BANK RATE</h2>



<p>Ghana&#8217;s central bank held its main interest rate steady at 29% for the third meeting in a row on Friday, saying a strong monetary stance was needed due to uncertainty over the inflation outlook.</p>



<p>((Compiled by Nairobi Newsroom))</p>


World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on July 29


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="(max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, July 26 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.</p>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>*Ghana&#8217;s central bank is due to announce its latest benchmark lending rate decision.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>The yen stabilized near a 12-week high against the dollar on Friday while Asia-Pacific equity markets remained on the back foot a day after their worst session since mid-April.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices rose slightly on Friday but remained on track for a third straight week of decline due to weak demand in China, the world&#8217;s largest crude importer, and expectations of a ceasefire deal for the Gaza war and related violence in the Middle East.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>The South African rand strengthened against a weaker dollar on Thursday, after U.S. economic data readings left intact expectations of an interest rate cut by the Federal Reserve in September.</p>



<h2 class="wp-block-heading" id="h-africa-economy">AFRICA ECONOMY</h2>



<p>Inflation in key sub-Saharan African economies is unlikely to slow to targets even after recent aggressive interest rate hikes as central banks look to reverse those increases, a Reuters poll found.</p>



<h2 class="wp-block-heading" id="h-africa-currencies">AFRICA CURRENCIES</h2>



<p>Kenyan and Ugandan shilling are expected to be stable against the dollar in the next week to Thursday, while Ghana&#8217;s cedi and Zambia&#8217;s kwacha are seen weakening and Nigeria&#8217;s naira could strengthen, traders said.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>Kenya&#8217;s shilling was stable on Thursday, but could to come under pressure due to offshore dollar demand, while any sales by the central bank could give it a boost, traders said.</p>



<h2 class="wp-block-heading" id="h-kenya-politics">KENYA POLITICS</h2>



<p>Kenyan police detained several people on Thursday who attempted to present a petition to the president&#8217;s office and lay flowers to honour those killed a month ago on the most violent day of anti-government protests, protesters said.</p>



<h2 class="wp-block-heading" id="h-zimbabwe-budget">ZIMBABWE BUDGET</h2>



<p>Zimbabwe&#8217;s 2024 budget deficit is forecast to be 1.3% of gross domestic product, Finance Minister Mthuli Ncube said on Thursday, but warned that concerns remained over the impact of a drought on finances</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on July 26


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-400697" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1-300x200.jpg 300w" sizes="(max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Double exposure of coin stack with city background and world map, financial graph, world map and global network business concept idea, element by NASA.</figcaption></figure>



<p>JOHANNESBURG, July 26 (Reuters)&nbsp;&#8211;&nbsp;The following economic event, equity and currency market moves may affect South African markets on Friday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>South Africa&#8217;s government will hold its weekly auction of inflation-linked bonds.</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>The South African rand strengthened against a weaker dollar on Thursday, after U.S. economic data readings left intact expectations of an interest rate cut by the Federal Reserve in September.</p>



<p>On the stock market, the Top-40 index closed 0.12% higher.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>The yen stabilized near a 12-week high against the dollar on Friday while Asia-Pacific equity markets remained on the back foot a day after their worst session since mid-April.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>The S&amp;P 500 and Nasdaq Composite ended a fickle session weaker on Thursday, failing to regain ground lost in the previous day&#8217;s tech-triggered sell-off as investors grappled with the likely direction of megacaps.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold was on track for a weekly loss, even as prices firmed on Friday ahead of a key U.S. inflation reading that could offer more cues on when the Federal Reserve will cut interest rates.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; SA banks face nearly R1-trillion exposure to energy transition risks</p>



<p>&#8211; SA pushes for relaxation of Agoa eligibility criteria</p>



<p>(Compiled by Tannur Anders)</p>


istockphoto-1076949610-612×612-1

South African Markets -Factors to watch on July 26


<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="1920" height="1080" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/108004882-1720728328098-gettyimages-2161665996-economy451659_szz6uf7k.jpeg" alt="" class="wp-image-511374" style="width:840px;height:auto" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/108004882-1720728328098-gettyimages-2161665996-economy451659_szz6uf7k.jpeg 1920w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/108004882-1720728328098-gettyimages-2161665996-economy451659_szz6uf7k-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/108004882-1720728328098-gettyimages-2161665996-economy451659_szz6uf7k-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/108004882-1720728328098-gettyimages-2161665996-economy451659_szz6uf7k-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/108004882-1720728328098-gettyimages-2161665996-economy451659_szz6uf7k-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/108004882-1720728328098-gettyimages-2161665996-economy451659_szz6uf7k-1536x864.jpeg 1536w" sizes="(max-width: 1920px) 100vw, 1920px" /><figcaption class="wp-element-caption">Photo: via CNBC</figcaption></figure>



<p>Economic activity in the U.S. was considerably stronger than expected during the second quarter, boosted by a strong consumer, government spending and a sizeable inventory build, according to an initial estimate Thursday from the Commerce Department.</p>



<p>Real gross domestic product, a measure of all the goods and services produced during the April-through-June period, increased at a 2.8% annualized pace adjusted for seasonality and inflation. Economists surveyed by Dow Jones had been looking for growth of 2.1% following a 1.4% rise in the first quarter.</p>



<p>Consumer spending helped propel the growth number higher, as did contributions from private inventory investment and nonresidential fixed investment, according to the first of three estimates the department will provide.</p>



<p>Personal consumption expenditures, the main proxy in the Bureau of Economic Analysis report for consumer activity, increased 2.3% for the quarter, up from the 1.5% acceleration in Q1. Both services and goods spending saw solid increases for the quarter.</p>



<p>Inventories also were a significant contributor, adding 0.82 percentage point to the total gain. Government spending added a tailwind as well, rising 3.9% at the federal level, including a 5.2% surge in defense outlays.</p>



<p>On the downside, imports, which subtract from GDP, jumped 6.9%, the biggest quarterly rise since Q1 of 2022. Exports were up just 2%.</p>



<p>Stock market futures drifted higher following the report while Treasury yields moved lower.</p>



<p>“The composition of growth was one of the better mixes that we have observed in some time,” said Joseph Brusuelas, chief economist at RSM. The report “tends to support the idea that the American economy is in the midst of a productivity boom which over the medium term will lift living standards across the country via lower inflation, low employment and rising real wages.”</p>



<p>There was some good news on the inflation front: the personal consumption expenditures price index, a key measure for the Federal Reserve, increased 2.6% for the quarter, down from the 3.4% move in Q1. Excluding food and energy, core PCE prices, which the Fed focuses on even more as a longer-term inflation indicator, were up 2.9%, compared to a 3.7% increase in the prior period.</p>



<p>The so-called chain-weighted price index, which takes into account changes in consumer behavior, increased 2.3% for the quarter, below the 2.6% estimate.</p>



<p>Treasury Secretary Janet Yellen saw the GDP report as “affirming the path we’re on to steady growth and declining inflation,” in remarks she delivered Thursday morning in Rio de Janeiro.</p>



<p>One other key variable, final sales to private domestic purchasers, which the Fed considers a good indicator of underlying demand, accelerated at a 2.6% pace, the same as in the prior quarter.</p>



<p>However, the report also indicated that the personal savings rate continues to decelerate, at 3.5% for the quarter, compared with 3.8% in Q1.</p>



<p>There have been signs of cracks lately in the consumer picture.</p>



<p>A report Wednesday from the Philadelphia Federal Reserve showed credit card delinquencies at an all-time high according to data going back to 2012. Revolving debt balances also reached a new high even as banks reported tightening credit standards and declining new card originations.</p>



<p>However, retail sales numbers have continued to climb indicating that consumers are weathering the headwinds of high interest rates and persistent inflation.</p>



<p>There also is pressure in the housing market: Sales are declining while home prices continue to rise, putting stress on first-time homebuyers.</p>



<p>Federal Reserve officials are expected to hold interest rates steady when they meet next week, though market pricing is pointing to the first cut in four years in September. Policymakers have been circumspect about when they might start reducing rates, though recent comments indicate more of a willingness to start easing policy and most central bankers have said they see further increases as unlikely.</p>



<p>In other economic news Thursday, the Labor Department reported that initial jobless claims totaled 235,000 for the week ended July 20, down 10,000 from the previous week and exactly in line with the Dow Jones forecast. Continuing claims, which run a week behind, edged lower to 1.85 million.</p>



<p>Also, orders for durable goods — generally big-ticket items such as aircraft, appliances and computers — unexpectedly fell 6.6% in June, compared with the forecast for a 0.3% increase. However, excluding transportation, new orders increased 0.5%.</p>


108004882-1720728328098-gettyimages-2161665996-economy451659_szz6uf7k

U.S. economy grew at a 2.8% pace in the second quarter, much more than expected


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1254" height="836" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling.jpg" alt="" class="wp-image-404443" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling.jpg 1254w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-768x512.jpg 768w" sizes="(max-width: 1254px) 100vw, 1254px" /><figcaption class="wp-element-caption">Macro view of a screen of trading terminal with abstract financial graph and digits. Trading and forex concept. 3D Rendering</figcaption></figure>



<p>July 25 (Reuters)&nbsp;&#8211;&nbsp;Stocks in most developing markets dropped to more than a one-month low on Thursday, as risk taking took a dive after a surprise interest rate decision out of China, while Ukraine bond yields ticked up following a credit rating downgrade.</p>



<p>MSCI&#8217;s index tracking equities across emerging markets dropped 0.6% on track for its ninth day of declines out of ten, but still hanging onto gains of over 4% year-to-date.</p>



<p>A currencies gauge edged up 0.2% against a softer dollar, with markets awaiting economic growth data out of the U.S. later in the day.</p>



<p>The People&#8217;s bank of China (PBOC) surprised markets for a second time this week with an unscheduled lending operation at steeply lower rates, in a heavier effort to prop the economy, which spooked investors and sent China stocks lower by 0.5% each.</p>



<p>China&#8217;s offshore yuan, however, firmed to levels seen last in early May, while bond yields across the curve were flat.</p>



<p>&#8220;The PBOC is trying to shore-up sluggish Chinese economic activity. However, until China deals with its huge debt overhang (total debt is more than 300% of GDP), the country looks set for weaker growth in the years ahead,&#8221; said Elias Haddad, senior markets strategist at Brown Brothers Harriman.</p>



<p>Indian equities continued their decline for the fifth straight day, with the indexes on track for their first weekly losses since late May after equity trading tax hikes earlier in the week.</p>



<p>The capital gains tax revisions sparked a selloff with data showing foreign investors offloaded nearly $1 billion worth of equities in the two days since the budget announcement.</p>



<p>South Africa&#8217;s rand depreciated 0.8%, tracking a weakness in precious metal prices, a top export item from the country.</p>



<p>In central and eastern Europe, Hungary&#8217;s forint weakened for the third-straight day by 0.1% to a two-week low on expectations of more monetary policy easing after an interest rate cut earlier in the week. Concerns also remain as the country struggles with the largest debt in the region.</p>



<p>An index tracking stocks in central and eastern Europe also slid 1.5% to a more than one month low.</p>



<p>Investors monitored ceasefire negotiations between Israel and Hamas, which U.S. officials said were appearing to be in their closing stages. The shekel was flat.</p>



<p>Elsewhere, Ukraine&#8217;s central bank was due to announce an interest rate decision.</p>



<p>Yields on dollar bonds ticked up 28 basis points (bps) as ratings agency Fitch downgraded the war-torn country&#8217;s credit rating further into default territory, citing a recently concluded in-principle agreement with a group of creditors to restructure $20 billion of international bonds.</p>



<p>(Reporting by Johann M Cherian in Bengaluru; editing by Philippa Fletcher)</p>


Macro view of a screen of trading terminal with abstract financial graph and digits. Trading and forex concept. 3D Rendering

Stocks slide to more than one-month low; China, Ukraine in focus


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1365" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-scaled.jpg" alt="" class="wp-image-423556" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-1536x1024.jpg 1536w" sizes="(max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Illustration photo shows a two-rand coin above a South African flag April 12, 2017.   REUTERS/Thomas White/Illustration</figcaption></figure>



<p>JOHANNESBURG, July 25 (Reuters)&nbsp;&#8211;&nbsp;The South African rand was weaker in early trade on Thursday, ahead of U.S. economic data readings that could give hints on the future interest rate path of the world&#8217;s biggest economy.</p>



<p>At 0631 GMT, the rand traded at 18.42 against the dollar, about 0.2% weaker than its previous close.</p>



<p>Markets await a U.S. gross domestic product reading on Thursday and personal consumption expenditure data &#8211; the Federal Reserve&#8217;s favoured measure of inflation &#8211; on Friday. These readings could give hints on the country&#8217;s the future interest rate path.</p>



<p>&#8220;Ahead of this afternoon&#8217;s much anticipated U.S. data&#8230; markets have seen risk off sentiment increase and thus EM (emerging market) currencies remain on the back foot,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.</p>



<p>&#8220;The rand&#8230; could possibly test the R18.50 mark in the current market conditions, with headwinds for commodity currencies also flaring up,&#8221; Cilliers added.</p>



<p>Like other risk-sensitive currencies, the rand often takes cues from global factors in addition to domestic drivers.</p>



<p>Locally, investors will turn their attention to South Africa&#8217;s producer inflation figures for June, expected around 0930 GMT.</p>



<p>On Wednesday, Statistics South Africa data showed headline consumer inflation eased to 5.1% year-on-year in June from 5.2% in May.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was slightly stronger in early deals, as the yield slipped 0.2 basis point to 9.5%.</p>



<p>(Reporting by Tannur Anders; Editing by Toby Chopra)</p>


Illustration photo of South African rand

South African rand weaker, focus on US economic data


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="(max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, July 25 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.</p>



<p>GLOBAL MARKETS</p>



<p>Asian shares were hammered on Thursday as a slump in global tech stocks sent investors fleeing into less risky assets, including short-dated bonds, the yen and Swiss franc.</p>



<p>WORLD OIL PRICES</p>



<p>Oil prices eased on Thursday as concerns over weak demand in China, the world&#8217;s largest crude importer, and expectations of a nearing ceasefire deal in the Middle East overcame gains in the previous session after draws in U.S. inventories.</p>



<p>SOUTH AFRICA MARKETS</p>



<p>The South African rand recouped some losses against a weaker dollar on Wednesday even as national inflation slowed, fuelling hopes of an interest rate cut by the South African Reserve Bank (SARB).</p>



<p>NIGERIA PETROLEUM</p>



<p>Eni has received formal approval from the Nigerian Upstream Petroleum Regulatory Commission to sell its unit Nigerian Agip Oil Company (NAOC) to the country&#8217;s leading energy company OANDO, the Italian group said on Tuesday.</p>



<p>NIGERIA POLITICS</p>



<p>Nigeria&#8217;s government on Wednesday pleaded for more time and patience to end economic hardships as citizens mobilise for demonstrations, a day after the country&#8217;s police chief warned against protests.</p>



<p>KENYA MARKETS</p>



<p>Kenya&#8217;s shilling was weaker against the dollar in early trade on Wednesday, LSEG data showed.</p>



<p>KENYA POLITICS</p>



<p>Kenyan President William Ruto on Wednesday nominated four members of the main opposition party to a &#8220;broad-based&#8221; cabinet he promised in response to nationwide protests, but activists criticised the new government as a corrupt bargain.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on July 25


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-400697" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1-300x200.jpg 300w" sizes="(max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Double exposure of coin stack with city background and world map, financial graph, world map and global network business concept idea, element by NASA.</figcaption></figure>



<p>JOHANNESBURG, July 25 (Reuters)&nbsp;&#8211;&nbsp;The following economic event, equity and currency market moves may affect South African markets on Thursday.</p>



<p>ECONOMIC EVENTS</p>



<p>Statistics South Africa will publish the country&#8217;s producer inflation figures for June.</p>



<p>SOUTH AFRICAN MARKETS</p>



<p>The South African rand recouped some losses against a weaker dollar on Wednesday even as national inflation slowed, fuelling hopes of an interest rate cut by the South African Reserve Bank (SARB).</p>



<p>On the stock market, the Top-40 index was last down 0.2%.</p>



<p>GLOBAL MARKETS</p>



<p>Asian shares were hammered on Thursday as a slump in global tech stocks sent investors fleeing into less risky assets, including short-dated bonds, the yen and Swiss franc.</p>



<p>WALL STREET</p>



<p>The S&amp;P 500 and Nasdaq ended at multi-week lows on Wednesday, with the S&amp;P snapping one of its longest streaks without a daily decline of more than 2%, as lackluster Alphabet and Tesla earnings undermined investor confidence in megacap names.</p>



<p>GOLD</p>



<p>Gold prices fell nearly 1% on Thursday, as investors booked profits ahead of U.S. economic data that could offer more cues on when the central bank will cut interest rates this year and by how much.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<p>BUSINESS DAY</p>



<p>&#8211; SA mounts bid to hang on to its Agoa trade benefits</p>



<p>&#8211; Tide is slowly turning for distressed SA household finances</p>



<p>(Compiled by Tannur Anders)</p>


South African Markets – Factors to watch on July 25


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="(max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, July 24 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.</p>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>*Zambia Finance Minister Situmbeko Musokotwane to present the country&#8217;s mid-year budget review.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian stocks were subdued on Wednesday after lacklustre earnings from U.S. tech behemoths Tesla and Alphabet dented sentiment, while the yen hit a six-week high ahead of a central bank meeting next week where a rate hike remains on the table.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices rebounded on Wednesday, snapping three straight sessions of decline, as falling U.S. crude inventories and growing supply risks from wildfires in Canada boosted prices.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>The South African rand weakened on Tuesday, as investors looked towards June inflation data due on Wednesday and markets watched for developments in the U.S. presidential race.</p>



<h2 class="wp-block-heading" id="h-nigeria-central-bank">NIGERIA CENTRAL BANK</h2>



<p>Nigeria&#8217;s central bank on Tuesday raised its benchmark interest rate for the fourth time this year, as inflation surged to a 28-year high and the naira came under renewed pressure on both the official and parallel markets.</p>



<h2 class="wp-block-heading" id="h-nigeria-wages">NIGERIA WAGES</h2>



<p>Nigerian lawmakers passed legislation on Tuesday to more than double the minimum wage to 70,000 naira ($44.16) a month, ending months of wrangling between the government and labour unions.</p>



<h2 class="wp-block-heading" id="h-nigeria-politics">NIGERIA POLITICS</h2>



<p>Nigeria&#8217;s police chief warned against Kenyan-style protests on Tuesday after frustrated citizens used online platforms to call for demonstrations against poor governance and a cost of living crisis.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>Kenya&#8217;s shilling weakened against the dollar on Tuesday, traders said, weighed on by banks covering their positions.</p>



<h2 class="wp-block-heading" id="h-kenya-economy">KENYA ECONOMY</h2>



<p>Kenya expects the International Monetary Fund to review its revised fiscal repair plan at the end of August, the country&#8217;s chief minister has told a parliamentary panel.</p>



<h2 class="wp-block-heading" id="h-kenya-politics">KENYA POLITICS</h2>



<p>Kenya&#8217;s police fired tear gas to prevent scuffles between groups of protesters and government supporters in the capital Nairobi on Tuesday, as youth-led demonstrations against alleged corruption and misgovernance dragged into their sixth week.</p>



<h2 class="wp-block-heading" id="h-uganda-politics">UGANDA POLITICS</h2>



<p>Ugandan security forces detained dozens of young people on Tuesday, a rights group said, as they took part in a banned protest rally in downtown Kampala against official corruption and alleged human rights abuses by the country&#8217;s rulers.</p>



<h2 class="wp-block-heading" id="h-tanzania-mining">TANZANIA MINING</h2>



<p>Australia&#8217;s Peak Rare Earths said on Wednesday Chinese miner Shenghe Resources would acquire a 50% stake in an U.K.-based firm that owns 84% of its Ngualla project in Tanzania.</p>



<h2 class="wp-block-heading" id="h-ghana-economy">GHANA ECONOMY</h2>



<p>Ghana&#8217;s finance minister raised the country&#8217;s 2024 growth forecast on Tuesday and said the West African nation was rebounding faster than expected from its worst economic crisis in a generation.</p>



<h2 class="wp-block-heading" id="h-botswana-mining">BOTSWANA MINING</h2>



<p>Botswana is proposing a law that will ask mining companies, once granted a licence, to sell a 24% stake in mines to locals if the government does not exercise its option to acquire the shareholding, a draft bill seen by Reuters on Tuesday shows.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on July 24


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-400697" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1-300x200.jpg 300w" sizes="(max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Double exposure of coin stack with city background and world map, financial graph, world map and global network business concept idea, element by NASA.</figcaption></figure>



<p>JOHANNESBURG, July 24 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic event, company announcement, equity and currency market moves may affect South African markets on Wednesday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>Statistics South Africa will publish the country&#8217;s June inflation figures.</p>



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



<p>Vodacom Group reported a 1.5% rise in its quarterly revenue on Wednesday.</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>The South African rand weakened on Tuesday, as investors looked towards June inflation data due on Wednesday and markets watched for developments in the U.S. presidential race.</p>



<p>On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed 0.24% higher.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian stocks were subdued on Wednesday after lacklustre earnings from U.S. tech behemoths Tesla and Alphabet dented sentiment, while the yen hit a six-week high ahead of a central bank meeting next week where a rate hike remains on the table.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>Wall Street&#8217;s main indexes ended slightly lower on Tuesday, having given up meager intraday gains in the final minutes of trading, as investors switched their focus to the latest earnings from Alphabet and Tesla</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices inched higher on Wednesday, with investors awaiting U.S. economic data that could influence the Federal Reserve&#8217;s rate-cut timeline.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; SA banks stage multibillion-rand rally</p>



<p>&#8211; Ramaphosa signs Climate Change Bill into law</p>



<p>(Compiled by Tannur Anders)</p>


South African Markets – Factors to watch on July 24


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="(max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, July 23 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.</p>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>*Nigeria&#8217;s central bank announces its latest interest rate decision.</p>



<p>*Ghana&#8217;s Finance Minister Mohammed Amin Adam is expected to present the West African nation&#8217;s midyear budget review to parliament.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian stocks bounced from one-month lows on Tuesday, with Taiwan&#8217;s market snapping a five-day losing streak as semiconductor shares took a lead from a Wall Street recovery, while sagging commodity prices weighed on the Aussie dollar.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices slipped for a third trading session on Tuesday as investors focused on the prospect of swelling oil supplies and weak demand, while showing little reaction to U.S. presidential campaign upheaval.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>The South African rand was stable on Monday as investors awaited inflation data later this week for hints on the country&#8217;s future interest rate path.</p>



<h2 class="wp-block-heading" id="h-nigeria-petroleum">NIGERIA PETROLEUM</h2>



<p>Nigerian lawmakers on Monday set up a committee to investigate crude shortages to local refineries and importation of dirty fuels, issues at the heart of a rift between the Dangote Refinery and Nigeria&#8217;s downnstream oil regulator.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>Kenya&#8217;s shilling edged down on Monday due to increased demand for dollars from the manufacturing sector and general goods importers, traders said.</p>



<h2 class="wp-block-heading" id="h-uganda-politics">UGANDA POLITICS</h2>



<p>Soldiers and police sealed off the headquarters of Uganda&#8217;s biggest opposition party on Monday in what a police spokesperson called a precautionary move ahead of anti-government protests planned for Tuesday despite a ban.</p>



<h2 class="wp-block-heading" id="h-tanzania-politics">TANZANIA POLITICS</h2>



<p>Tanzania&#8217;s President Samia Suluhu Hassan has fired two senior members of government including the foreign minister in a mini-cabinet reshuffle, her office said.</p>



<h2 class="wp-block-heading" id="h-ivory-coast-cocoa">IVORY COAST COCOA</h2>



<p>Main crop cocoa arrivals at ports in top grower Ivory Coast had reached 1.644 million metric tons by July 21 since the start of the season on Oct. 1, down 27.2% from the same period last season, exporters estimated on Monday.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on July 23


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-400697" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1-300x200.jpg 300w" sizes="(max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Double exposure of coin stack with city background and world map, financial graph, world map and global network business concept idea, element by NASA.</figcaption></figure>



<p>JOHANNESBURG, July 22 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, company announcement, equity and currency market moves may affect South African markets on Monday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>South Africa&#8217;s Johannesburg Stock Exchange will release data on foreigners&#8217; buying and selling of bonds and stocks during the previous week.</p>



<p>South Africa&#8217;s government hold will its weekly auction for Treasury bills.</p>



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



<p>Anglo American Platinum will releases its first-half year results.</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>South Africa&#8217;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.</p>



<p>On the stock market, the Top-40 .JTOPI index closed about 0.6% lower.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian shares slid anew on Monday, getting little lift from a surprise rate cut by China&#8217;s central bank, while Wall Street futures firmed in the wake of President Joe Biden&#8217;s decision to bow out of the election race.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>S&amp;P 500 e-mini futures were up slightly late on Sunday after U.S. President Joe Biden ended his reelection bid and endorsed Vice President Kamala Harris to replace him as the Democratic candidate against Republican Donald Trump.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices firmed on Monday as the dollar eased following U.S. President Joe Biden&#8217;s decision to withdraw from the 2024 presidential race, with investors turning to bullion as a hedge against an uncertain political and market outlook.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



<p>&#8211; SA economy 2.0: Godongwana is optimistic and ready to do battle</p>



<p>(Compiled by Tannur Anders)</p>


South African Markets – Factors to watch on July 22


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="(max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, July 22 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian shares slid anew on Monday, getting little lift from a surprise rate cut by China&#8217;s central bank, while Wall Street futures firmed in the wake of President Joe Biden&#8217;s decision to bow out of the election race.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>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.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>South Africa&#8217;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.</p>



<h2 class="wp-block-heading" id="h-nigeria-petroleum">NIGERIA PETROLEUM</h2>



<p>Nigeria&#8217;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.</p>



<h2 class="wp-block-heading" id="h-nigeria-meta">NIGERIA META</h2>



<p>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.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>Kenya&#8217;s shilling was stable on Friday but faced pressure from interbank foreign currency demand amid thin supply, traders said.</p>



<h2 class="wp-block-heading" id="h-kenya-politics">KENYA POLITICS</h2>



<p>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.</p>



<h2 class="wp-block-heading" id="h-democratic-republic-of-congo-mining">DEMOCRATIC REPUBLIC OF CONGO MINING</h2>



<p>The governor of Democratic Republic of Congo&#8217;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.</p>



<h2 class="wp-block-heading" id="h-angola-central-bank-rate">ANGOLA CENTRAL BANK RATE</h2>



<p>Angola&#8217;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.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on July 22


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-400697" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1-300x200.jpg 300w" sizes="(max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Double exposure of coin stack with city background and world map, financial graph, world map and global network business concept idea, element by NASA.</figcaption></figure>



<p>JOHANNESBURG, July 19 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic event, company announcements, equity and currency market moves may affect South African markets on Friday.</p>



<h2 class="wp-block-heading" id="h-economic-event">ECONOMIC EVENT</h2>



<p>Weekly inflation-linked bond auction</p>



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



<p>Global cyber outage grounds flights, hits media, financial, telecoms</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>South Africa&#8217;s rand was stable on Thursday after the South African Reserve Bank kept its main interest rate unchanged for the seventh meeting in a row.</p>



<p>On the stock market, the Top-40 index was slightly stronger at 0.15%.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian shares are set to end the week on a sour note, as uncertainty across major economies added to headwinds for investors even as the global rate easing cycle gets under way.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>U.S. stocks tumbled on Thursday, reversing early gains as investors continued to rotate away from high-priced megacap growth stocks and second-quarter earnings season gathered steam.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices fell on Friday, but were on track for a fourth straight weekly gain as expectations that the Federal Reserve will cut interest rates in September lifted bullion&#8217;s appeal.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; Mixed reaction to Cyril Ramaphosa’s opening of parliament speech</p>



<p>&#8211; Healthcare costs pushing more than half of SA’s TB patients into poverty</p>



<p>(Compiled by Bhargav Acharya)</p>


South African Markets – Factors to watch on July 19


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="(max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>July 19 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian shares are set to end the week on a sour note, as uncertainty across the geopolitical landscape and in major economies added to headwinds for investors even as the global rate easing cycle gets under way.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices fell on Friday, setting up for a second weekly decline, as mixed economic signals weighed on investor sentiment and boosted the dollar.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>South Africa&#8217;s rand was stable on Thursday after the South African Reserve Bank kept its main interest rate unchanged for the seventh meeting in a row.</p>



<h2 class="wp-block-heading" id="h-kenya-politics">KENYA POLITICS</h2>



<p>Kenya&#8217;s government on Thursday ratcheted up its appeal for weeks of protests to stop and police tried to ban demonstrations in the heart of the capital Nairobi only to be overruled in court.</p>



<h2 class="wp-block-heading" id="h-sudan-politics">SUDAN POLITICS</h2>



<p>The United States will give an extra $203 million to help millions of civilians affected by the war in Sudan, U.S. Ambassador to the United Nations Linda Thomas-Greenfield said on Thursday, calling on other nations to step up their aid.</p>



<h2 class="wp-block-heading" id="h-rwanda-election">RWANDA ELECTION</h2>



<p>Rwanda&#8217;s President Paul Kagame has been re-elected with 99.18% of the vote, the National Electoral Commission said on Thursday, extending his near quarter-century in office.</p>



<h2 class="wp-block-heading" id="h-cocoa-ghana">COCOA GHANA</h2>



<p>A major cocoa producing region in Ghana, the world&#8217;s second largest cocoa grower, is 81% infected with swollen shoot disease, according to the International Cocoa Organisation (ICCO).</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on July 19


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1254" height="836" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling.jpg" alt="" class="wp-image-404443" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling.jpg 1254w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-768x512.jpg 768w" sizes="(max-width: 1254px) 100vw, 1254px" /><figcaption class="wp-element-caption">Macro view of a screen of trading terminal with abstract financial graph and digits. Trading and forex concept. 3D Rendering</figcaption></figure>



<p>July 18 (Reuters)&nbsp;&#8211;&nbsp;Caution prevailed across most developing markets on Wednesday, ahead of China policy announcements and interest-rate decisions by a few central banks, while attention was also on the opening of South Africa&#8217;s parliament following recent elections.</p>



<p>MSCI&#8217;s index tracking emerging markets equities slipped 0.4%, its third-straight day in losses, while a currencies gauge was flat against the dollar.</p>



<p>China stocks settled higher by 0.5%, with markets anticipating any policy announcements to support the second largest economy&#8217;s sluggish recovery, following the conclusion of a four-day Communist Party meet.</p>



<p>Tech-heavy stock indexes in Asia such as Taiwan, Korea and Hong Kong&#8217;s tech index closed lower between 0.6% and 1.5%, as a report of the U.S. mulling tighter export curbs on advanced chip technology to China overshadowed an upbeat quarterly revenue forecast from TSMC.</p>



<p>South Africa&#8217;s rand was muted, and yield on the benchmark sovereign bond ticked up 2 basis points (bps) ahead of a rate decision, where most economists expect the local central bank to leave rates at 8.25%.</p>



<p>Markets will also focus on President Cyril Ramaphosa&#8217;s opening address to parliament, for any clues on the policy trajectory for the first coalition government in the country.</p>



<p>&#8220;The reforms designed to improve electricity infrastructure is probably going to be the biggest challenge for South Africa and if they&#8217;re able to come up with policies and improvements to infrastructure, then markets would react favourably to that,&#8221; said Matthew Ryan, head of market strategy at Ebury.</p>



<p>The rand has strengthened about 3.5% after national elections held in late May pointed to a coalition government, and the local central bank has stayed put on borrowing costs.</p>



<p>Meanwhile, a parliamentary budget committee has recommended that lawmakers approve a law granting the Ukrainian government the right to suspend debt payments.</p>



<p>Against the backdrop of the Russian-Ukraine conflict, the country has $19.7 billion outstanding on its international bonds and owes $2.6 billion on GDP warrants. The hryvnia inched up 0.3%, after depreciating more than 1% on Wednesday.</p>



<p>Meanwhile, Bangladesh&#8217;s taka was flat, even as local protests over high unemployment intensified. Kenya&#8217;s shilling was muted as investors monitored local developments after police banned demonstrations in the capital following weeks of anti-government protests.</p>



<p>In the Middle East, Israel&#8217;s Tel Aviv stock index slipped 0.3%. The exchange is expected to launch a futures market in September.</p>



<p>Hungary&#8217;s forint led gains among eastern and central European currencies with a 0.3% rise, to touch levels seen more than a month ago.</p>



<p>Elsewhere, Egypt&#8217;s pound slipped 0.1% ahead of an interest rate decision, with economists expecting no change.</p>



<p>(Reporting by Johann M Cherian in Bengaluru; Editing by Arun Koyyur)</p>


Stocks slip with China policy decisions on tap; S.Africa in focus


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-400697" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1-300x200.jpg 300w" sizes="(max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Double exposure of coin stack with city background and world map, financial graph, world map and global network business concept idea, element by NASA.</figcaption></figure>



<p>JOHANNESBURG, July 18 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic and political events, company announcements, equity and currency market moves may affect South African markets on Thursday.</p>



<h2 class="wp-block-heading" id="h-economic-and-political-events">ECONOMIC AND POLITICAL EVENTS</h2>



<p>President Cyril Ramaphosa&#8217;s opening of parliament address, laying out priorities for new administration from 1700 GMT</p>



<p>South African central bank interest rate announcement from 1300 GMT</p>



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



<p>Investment holding company Brait will release the offer price of its 1.5 billion rand ($82.63 million) rights issue.</p>



<p>Anglo American Platinum expects its half-year profit to decline by as much as 25%, mainly due to lower prices of palladium and rhodium, it said on Thursday.</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>The South African rand dropped sharply on Wednesday, as investors dumped riskier assets globally because of worries over the state of the world economy and geopolitical risks after U.S. presidential candidate Donald Trump&#8217;s remarks on Taiwan.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian equities slid on Thursday, led by chip stocks as investors fret over the prospect of escalating trade tensions between the U.S. and China, while the yen was firm after scaling a six-week high following suspected interventions by Tokyo.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>The S&amp;P 500 and the Nasdaq tumbled on Wednesday as plunging microchip shares, in the face of potential escalation of U.S. trade conflicts with China, exacerbated the ongoing rotation out of megacap tech-related stocks.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices rose on Thursday, hovering near a record high scaled in the previous session, as rising anticipation of a U.S. interest rate cut in September lifted demand for non-yielding bullion.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; Trade and industry department wants to use pensions to fund industrialisation</p>



<p>&#8211; Gwede Mantashe wants private investors for Sapref refinery rebuild</p>



<p>&#8211; Enoch Godongwana says Treasury is set on reducing debt</p>



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



<p>&#8211; Godongwana pledges to fast-track private investment in water and transport</p>



<p>($1 = 18.1541 rand)</p>



<p>(Compiled by Alexander Winning)</p>


Economy

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South African Markets -Factors to watch on July 26

U.S. economy grew at a 2.8% pace in the second quarter, much more than expected

Stocks slide to more than one-month low; China, Ukraine in focus

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South African Markets – Factors to watch on July 25

African Markets – Factors to watch on July 24

South African Markets – Factors to watch on July 24

African Markets – Factors to watch on July 23

South African Markets – Factors to watch on July 22

African Markets – Factors to watch on July 22

South African Markets – Factors to watch on July 19

African Markets – Factors to watch on July 19

Stocks slip with China policy decisions on tap; S.Africa in focus

South African Markets – Factors to watch on July 18

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Economy

African Markets – Factors to watch on July 29

African Markets – Factors to watch on July 26

South African Markets -Factors to watch on July 26

U.S. economy grew at a 2.8% pace in the second quarter, much more than expected

Stocks slide to more than one-month low; China, Ukraine in focus

South African rand weaker, focus on US economic data

African Markets – Factors to watch on July 25

South African Markets – Factors to watch on July 25

African Markets – Factors to watch on July 24

South African Markets – Factors to watch on July 24

African Markets – Factors to watch on July 23

South African Markets – Factors to watch on July 22

African Markets – Factors to watch on July 22

South African Markets – Factors to watch on July 19

African Markets – Factors to watch on July 19

Stocks slip with China policy decisions on tap; S.Africa in focus

South African Markets – Factors to watch on July 18

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