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African Markets - Factors to watch on July 6

Stocks

   

July 6 | Tue Jul 6, 2010 10:37am IST

July 6 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.

- - - -

EVENTS:

* NIGERIA - Foreign ministers from Eight Developing Nations (D-8): Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey meet for summit in Nigeria.

* KENYA - Cabinet meets to discuss a vote by MPs to raise their wages by up to 25 percent. The finance minister has rejected the vote, saying there is no cash for the raise that has angered the general public and has been criticised by labour unions and the media. Unions have threatened to call strikes.

GLOBAL MARKETS

Asian stocks slipped on Tuesday on growing investor concerns of slower economic growth in the United States and China, the main pillars of the world economy, and fading risk appetite sent the yen up against the dollar and the euro. [ID:nSGE66502D]

AFRICAN MARKETS

For all the latest news on African stocks click on [.J]

SOUTH AFRICA MARKETS

South Africa's rand was a touch firmer against the dollar in dull Monday trade, finding little impetus to break out of a narrow range, while stocks ticked down as investors treaded cautiously on concerns about the global economy. [ID:nLDE6641KK]

NIGERIA ECONOMY

Nigeria's monetary policy committee left its benchmark interest rate unchanged at 6.0 percent but noted that inflation was a real risk in sub-Saharan Africa's second-biggest economy. [ID:nLDE6641N1]

Foreign investors stand ready to pump billions of dollars into Nigeria's dilapidated power sector if the government can sort out the regulatory framework. [ID:nLDE6640QU]

KENYA STOCKS

Kenya's Centum Investment (ICDC.NR) expects assets under management to more than triple by 2014 as the country's only listed investment firm focuses on private equity and real estate in east Africa. [ID:nLDE66411D]

GHANA OIL

Ghana National Petroleum Corporation has rejected a request by privately held Kosmos Energy to sell its stake in the Jubilee oilfield to ExxonMobil (XOM.N). [ID:nLDE66410L]

IVORY COAST COCOA

Cocoa arrivals at ports in top grower Ivory Coast reached around 1,058,000 tonnes by July 4, exporters estimated on Monday, a couple of thousand tonnes less than in the same period of the last season. [ID:nCOC540922]

EMERGING MARKETS

For the top emerging markets news, double click on [nTOPEMRG]

COMMODITIES

For 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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