African Markets - Factors to watch on June 28

  • Reuters
  • Stock Market News
African Markets - Factors to watch on June 28
Credit: © Reuters.

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

- - - - - EVENTS: *Kenya, Mauritius release first quarter 2019 GDP numbers

GLOBAL MARKETS Asian shares stumbled on Friday amid rising doubts that a highly anticipated meeting between U.S. President Donald Trump and Chinese President Xi Jin ping this weekend could lead to an easing of trade tensions. MKTS/GLOB

WORLD OIL PRICES Oil prices eased on Friday in a cautious market, as traders eyed a scheduled meeting between U.S. President Donald Trump and Chinese President Xi Jin ping at the G20 summit and next week's OPEC meeting. 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 gained on Thursday on hopes the United States and China could reach an agreement at the G20 summit this week to prevent a further escalation in their trade war. STOCKS Nigerian stocks .NGSEINDEX dropped to its lowest in five weeks on Thursday after heavyweight Dangle Cement DANGCEM.LG declined. MTN Shares in MTN Nigeria MTNN.LG dropped on Thursday to their lowest level since the telecom company listed five weeks ago, after a court case about its $2 billion tax dispute with the government was adjourned until October. MARKETS The Kenyan shilling KES= weakened against the dollar on Thursday as companies in the energy and manufacturing sector bought dollars to meet end month obligations, traders said. MARKETS The Ugandan shilling UGH= was a notch firmer on Thursday, helped by dollar inflows from charities looking to pay month-end salaries and commodity exporters. MINING Vedanta Resources VDAN.NS said on Thursday a Zambian court has issued an order halting any move by the provisional liquidator of its Gondola Copper Mines (ACM) business to dispose of COM's assets or make arrangements with its creditors. ELECTRICITY Zambia's Tesco (LON: TSCO ) Ltd should freeze staff hiring, merge some of its departments and take other steps to cut costs and make the state power utility more efficient, a government body said. SECURITY The Baklava and Cake cafe was heaving with customers when truck-loads of heavily armed men in fatigues rolled up across the road outside the local government headquarters in Ethiopia's Amharic region. MADAGASCAR BURUNDI Africa Cup of Nations debutant Madagascar took a giant stride towards the next round as Marco Ilaimaharitra hammered home a late free kick to beat Burundi 1-0 in their Group B match on Thursday. FILM Foreign companies filming in Tanzania must give the government the right to vet raw footage and let the country use the movie in promotional material, according to a bill passed by parliament on Thursday. SEPARATISTS Switzerland has agreed to mediate talks between Cameroonian authorities and separatists in a bid to end escalating violence in the country's Anglophobe regions, the Swiss government said on Thursday. MINING At least 36 illegal miners were killed on Thursday when a copper mine owned by Glencore (LON: GLEN ) Glen. l collapsed in a southeast Congo, the provincial governor said. the latest precious metals report click on GOLD/

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