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African Markets - Factors to watch on July 21

Published 21/07/2017, 04:28 pm
Updated 21/07/2017, 04:30 pm
© Reuters.  African Markets - Factors to watch on July 21

© Reuters. African Markets - Factors to watch on July 21

NAIROBI, July 21 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

- - - - - GLOBAL MARKETS The euro held near two-year highs against the dollar on Friday after the head of the European Central Bank said tapering of its stimulus will be on the table this autumn, while a solid global economic outlook kept Asian share prices near decade highs. MKTS/GLOB GLOBAL OIL

Oil prices were little changed on Friday ahead of a key meeting of major oil producing nations next week, with Brent sitting below the $50 per barrel level that was briefly breached for the first time in six weeks in the previous session. O/R

EMERGING MARKETS For the top emerging markets news, double click on STOCKS For the latest news on African stocks, click on .J

SOUTH AFRICA MARKETS South Africa's rand shed as much as one percent against the dollar on Thursday after the central bank unexpectedly cut its benchmark lending rate for the first time in five years. MARKETS enya's central bank sold dollars on Thursday in foreign exchange market to support the shilling KES= , traders said. At 1110 GMT, commercial banks quoted the shilling at 103.75/85 to the dollar, compared with Wednesday's close of 103.65/85. ELECTIONS Kenya's electoral body says it is facing more than 300 court cases from candidates, parties and civil society groups before elections on Aug. 8, raising concern about whether the disputes can be resolved in time. LENDERS A Nigerian court has ordered seven local banks to transfer a total of $793.20 million due to the government immediately after the lenders withheld monies they collected on behalf of the state, a government lawyer told Reuters on Thursday. CORRUPTION

A Nigerian court has ordered the temporary seizure of a $37.5 million property owned by a former oil minister, the state news agency said, the latest move related to graft allegations against a lynchpin of the last administration.

AFRICA MINING South Africa intends to suspend the granting of applications for prospecting and mining rights as well as any renewals pending a court case to review new mining laws, the Mineral Resources Minister Mosebenzi Zwane said on Thursday. AFRICA REPO South Africa's central bank unexpectedly cut its benchmark lending rate for the first time in five years on Thursday, citing weak growth and easing inflation, and denied any pressure from recent political attacks on its mandate. the latest precious metals report click on GOL/

For the latest base metals report click on MET/L

For the latest crude oil report click on O/L

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