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African Markets - Factors to watch on Aug 2

Published 02/08/2017, 02:40 pm
Updated 02/08/2017, 02:50 pm
© Reuters.  African Markets - Factors to watch on Aug 2

NAIROBI, Aug 2 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

- - - - - EVENTS: GLOBAL MARKETS Asian technology stocks hit 17-year peaks on Wednesday as blockbuster earnings from Apple AAPL.O rippled out to component makers globally, helping offset a pullback in the energy sector. MKTS/GLOB GLOBAL OIL

Oil prices fell 1 percent on Wednesday, with rising U.S. fuel inventories pulling U.S. crude back below $50 per barrel, while ongoing high supplies from producer club OPEC weighed on international prices.

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 extended its losses against the dollar on Tuesday after a warning by Moody's about political interference in the country's economic policy reignited fears about downgrades of credit ratings. KENYA MARKETS Kenya's central bank sold dollars to banks early on Tuesday, helping to keep the shilling KES= stable, after it weakened late in the previous session on concerns about an Aug. 8 national election, traders said. KENYA ELECTIONS Protesters marched on the offices of Kenya's election commission on Tuesday, demanding a speedy investigation of the murder of a senior official that has raised fears over the legitimacy of next week's national elections.

NIGERIA EQUITIES Nigeria's Dangote Industries Limited sold a 2.3 percent stake in Dangote Cement DANGCEM.LG to foreign investors on Tuesday in a stock market deal valued at 86.1 billion naira ($236 million). NIGERIA LOANS A group of Nigerian banks has agreed an extension to a $1.2 billion loan made to 9mobile, formerly known as Etisalat Nigeria, pending the mobile operator finding new investors, FCMB bank FCMB.LG said on Tuesday.

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