African Markets - Factors to watch on July 7

July 7 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

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EVENTS:

* Heads of state of D8 developing nations arrive in Nigeria ahead of Thursday's summit of Eight Developing Nations (D-8): Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.

* Brazil's President Luiz Inacio Lula da Silva on a visit to Tanzania. He is due to open Tanzania's annual trade fair.

* Kenya Human Rights Commission due to hold a news conference on legislators approving their own salary increase, a move that has drawn widespread criticism.

GLOBAL MARKETS

Asian stocks fell on Wednesday as investors worried global growth was faltering, while the euro held near a 7-week high as investors pared long positions in the dollar on doubts about the resiliency of the U.S. recovery. [ID:nSGE666050]

AFRICAN MARKETS

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SOUTH AFRICA MARKETS

South Africa's rand and stocks firmed to one-week highs on Tuesday in line with a global rebound in risk appetite that boosted emerging markets. [ID:nLDE6651SA]

AFRICA ECONOMY

The African Development Bank is likely to trim Africa's 2010 growth forecast by between 0.5 and 0.8 percentage points due to an expected slowdown in Europe, chief economist Mthuli Ncube said on Tuesday. [ID:nLDE6650MO]

NIGERIA REFINERIES

Nigeria's state-run oil firm NNPC said on Tuesday three new refineries will be onstream by 2014, following a deal signed with China State Construction Engineering Corp (CSCEC) in May. [ID:nLDE6651VQ]

NIGERIA FUND

Nigeria has the political support for creating a sovereign wealth fund, but it will take time to finalise details for its financing, the finance minister said on Tuesday. [ID:nLDE6651QS]

KENYA MARKETS

The Nairobi Stock Exchange's (NSE) main NSE-20 Share Index .NSE20 dropped by 14.43 points to close at 4,309.41 on Tuesday, while the All Share Index .NASI rose by 0.22 points to close at 94.94.

Equity turnover rose to 355.14 million shillings from the trade of 20.88 million shares, compared with 203.31 million shillings from the sale of 14.67 million shares on Monday.

MAURITIUS MARKETS

Mauritius' benchmark SEMDEX index .MDEX closed lower at 1,656.29, down from 1,660.50 points as hotel and sugar firms edged down, driven by investor concerns over the volatile euro. [ID:nLDE6651L4]

UGANDA OIL

Uganda on Tuesday gave conditional approval for the sale of Heritage Oil's (HOIL.L) assets there, paving the way for Tullow Oil (TLW.L) to start a $10 billion project to develop Uganda's oil reserves. [ID:nLDE66413W]

ANGOLA OIL

Angolan state-owned oil company Sonangol said on Tuesday it had signed a memorandum of understanding with Venezuela's national oil firm PDVSA [PDVSA.UL] and its Cuban counterpart Cupet to develop two oil fields in Venezuela. [ID:nLDE6651ZP]

ANGOLA IMF

An International Monetary Fund (IMF) team is due in Angola at the end of this month to carry out the second and third reviews of its $1.4 billion loan to the African nation, an economy ministry spokesman said. [ID:nLDE66514V]

SEYCHELLES DEBT

France signed a deal on Tuesday to restructure debt owed by Seychelles worth 44 million euros ($59.03 million) to help the Indian Ocean archipelago put its debts on a sustainable footing. [ID:nLDE6651OG]

EMERGING MARKETS

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COMMODITIES

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