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African Markets - Factors to watch on July 10

Published 2019-07-10, 12:39 a/m
African Markets - Factors to watch on July 10
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NAIROBI, July 10 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

- - - - - GLOBAL MARKETS

Asian shares turned mixed on Wednesday while rising Treasury yields lifted the dollar as markets wondered if the world's most powerful central banker would confirm or confound expectations for U.S. policy easing this month.

MKTS/GLOB

WORLD OIL PRICES

Oil prices rose on Wednesday, led by U.S. crude after an industry group reported that U.S. stockpiles fell for a fourth week in a row, alleviating concerns about oversupply amid global trade tensions.

O/R

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

NIGERIA TELECOMS

Airtel Africa AAF.L listed on the Nigerian Stock Exchange on Tuesday in a 1.36 trillion naira ($4.4 bln) flotation turning the telecoms company into the bourse's third-largest stock by market value. MINING

Tanzania's largest gold miner Acacia Mining Plc ACAA.L said on Tuesday it is worth more than a buyout proposal by majority shareholder Barrick Gold Corp ABX.TO, GOLD.N values it at, and extended the deadline for a firm bid to July 19. AFRICA MARKETS

South Africa's rand steadied against the dollar on Tuesday, struggling for momentum as investors awaited clues on U.S. monetary policy from the Federal Reserve officials and domestic data. Stocks closed lower. ECONOMY

Public sector workers in Zimbabwe on Tuesday rejected a government offer of 180 million Zimbabwe dollars ($21 million) in added pay for the July-December period as inadequate in the face of soaring inflation, a union official said. AFRICA CENTRAL BANK

The South African central bank's independence is an important check on government-controlled fiscal policy, a central bank deputy governor said on Tuesday, following a high-profile row over the role of the bank. AFRICA PLATINUM

The world's top platinum miners kicked off talks with South Africa's unions on Tuesday in what is expected to be a tough round of wage talks, as a rise in profits is likely to provoke higher wage demands. 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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