African Markets - Factors to watch on Aug 3 - Reuters

August 3, 2016
NAIROBI, Aug 3 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.
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EVENTS:
*KENYA The central bank auctions 182-day and 364-day Treasury bills worth a total 12 billion shillings.

GLOBAL MARKETS
Asian shares fell on Wednesday while the yen lorded over a weakened U.S dollar as fears that the Bank of Japan may retreat from its massive bond-buying campaign added to a shakeout in debt markets globally.

WORLD OIL PRICES
Oil prices edged up in early trading on Wednesday, supported by a weaker dollar, but U.S. crude futures remained below $40 per barrel and Brent was below $42 as ongoing fuel oversupply and stuttering economic growth weighed on markets.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa's rand lost some ground against the U.S. dollar on Tuesday with traders taking a cautious stance ahead of local government elections on Wednesday and global economic data later in the week.

NIGERIA MARKETS
The Nigerian naira closed at 310.50 against the dollar on Tuesday, firmer than previous close of 315.50, Thomson Reuters data showed.

Also, Nigeria plans to raise 245.18 billion naira ($773.44 million)worth of Treasury bills with maturities ranging between three months and a year on Aug. 3, traders said on Tuesday citing a central bank Treasury bill calendar.

NIGERIA FLOUR MILLS SHARE SALE
Flour Mills of Nigeria has registered plans with regulators to raise up to 40 billion naira ($128 million) in equity over the next three years, its chief financial officer said on Tuesday.

KENYA MARKETS
The Kenyan shilling was unmoved against the dollar on Tuesday, with buyers from sectors like energy holding back from buying the U.S. currency in anticipation of better rates, traders said.

SOUTH SUDAN UNREST
Tens of thousands of people have fled a fresh outbreak of violence in South Sudan, reporting mass killings, looting and forced recruitment of child soldiers, U.N. agencies said on Tuesday.

GHANA ECONOMY
Ghana's parliament on Tuesday overwhelmingly rejected a core condition of a $918 million International Monetary Fund (IMF) aid deal on Tuesday, breaching the terms of a three-year programme meant to fix an economy dogged by high public debt.

ANGOLA PETROLEUM EXPLORATION
Cobalt International Energy Inc said it was unlikely to close a $1.75 billion sale of its 40 percent stake in two offshore oil blocks in Angola to the state oil company, sending its shares down as much as 43.5 percent.

ZAMBIA POLITICS
Zambian President Edgar Lungu will resort to "draconian measures" if the opposition tries to disrupt the peace before, during or after the country's elections next week, his spokesman said on Tuesday.

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Steven Rich
Sep 17, 2018:
Well done
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