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African Markets - Factors to watch on June 13

2017-06-15 02:23 [METALS] Source:Netword
Guide:NAIROBI, June 13 (Reuters) - The following company announcements, scheduled economicindicators, debt and currency market moves and political events may

NAIROBI, June 13 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. - - - - - EVENTS: *KENYA - Centum Investment Company releases its full year earnings results for the period to end-March. GLOBAL MARKETS Asian Stocks mostly rebounded on Tuesday despite a further slide in U.S. tech shares, while the Canadian dollar soared on the possibility interest rates might go up sooner than expected. WORLD OIL PRICES Oil prices edged up early on Tuesday, lifted by statements that OPEC-leader Saudi Arabia was making significant supply cuts to customers, although rising U.S. output meant that markets remain well supplied. EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on African Stocks, click on SOUTH AFRICA MARKETS South Africa's rand firmed against the U.S. dollar and government bonds firmed on Monday, shrugging off a credit downgrade by Moody's of both local and foreign currency ratings as investors kept faith in the high yields on offer. NIGERIA BUDGET Nigeria's acting president, Vice President Yemi Osinbajo, signed the 2017 budget into law on Monday, with Abuja planning record spending to pull Africa's biggest economy out of recession. NIGERIA CORRUPTION Nigeria's anti-corruption agency is investigating the speaker of the lower chamber of parliament, according to a document seen by Reuters on Monday, part of a campaign against graft being waged by President Muhammadu Buhari's government. KENYA MARKETS The Kenyan shilling was stable on Monday with traders saying demand from oil importers was being met by hard currency inflows from remittances and horticulture exporters. KENYA BANKING Kenya's biggest lender by assets, KCB Group , has proposed taking over National Bank of Kenya (NBK) through a share swap to increase its share of public sector banking business, according to documents seen by Reuters. TANZANIA MINING Acacia Mining on Monday disputed the outcome of a second audit by the Tanzanian government which said the company had underdeclared revenues and tax payments for years and by billions of dollars, sending its shares 13 percent lower. IVORY COAST COCOA Cocoa arrivals at ports in top grower Ivory Coast since the start of the season on Oct. 1 had reached about 1,652,000 tonnes by June 11, exporters estimated on Monday, up 20 percent from the same period of the previous season. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on

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