African Markets – Factors to watch on July 19

PUBLISHED: Mon, 19 Jul 2021 09:15:11 GMT
Nairobi Newsroom
Reuters
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NAIROBI, July 19 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.

GLOBAL MARKETS

Asian shares slipped to a one-week low on Monday and perceived safe haven assets, including the yen and gold, edged higher amid fears of rising inflation and a surge in coronavirus cases, while oil prices fell on oversupply worries.

WORLD OIL PRICES

Oil prices fell more than $1 a barrel on Monday, after the OPEC+ group of producers overcame internal divisions and agreed to boost output, sparking some concerns about a crude surplus as COVID-19 infections continue to rise in many countries.

SOUTH AFRICA MARKETS

South Africa’s rand firmed on Friday as days of unrest began to subside and communities took stock of looting and violence in which at least 117 people were killed.

KENYA MARKETS

The Kenyan shilling KES= was stable on Friday, amid an increase in demand for dollars from energy importers as inflows slowed, traders said.

ETHIOPIA CONFLICT

Forces in Ethiopia’s northern Tigray region have released around 1,000 government soldiers captured during recent fighting, the head of its ruling party said, as both sides prepared for a showdown over contested land in the west of the region.

IVORY COAST HEALTH

A World Bank programme to help medical clinics in Ivory Coast procure equipment from General Electric GE.N and Philips PHG.AS could spur the cocoa-producing country’s development into a regional medical hub, Prime Minister Patrick Achi said on Sunday.

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AFRICA VACCINES

Nearly 50 African countries are to receive 25 million COVID-19 vaccine doses donated by the United States, with the first shipments to Burkina Faso, Djibouti and Ethiopia in coming days, U.S. officials and the Gavi vaccine alliance said on Friday.

(Compiled by Nairobi Newsroom)