Friday July 3, 07:25 AM
African Markets - Factors to watch on July 3
July 3 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.
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GLOBAL MARKETS
Asian stocks retreated on Friday and the dollar edged up after a disappointingly big drop in U.S. employment prompted investors to pull back from commodities, resource-linked shares and higher-yielding currencies.
SOUTH AFRICAN MARKETS
South African rand weakened sharply against the dollar on Thursday as investors' appetite for risk waned on worries that the global economy will remain weak for some time, while stocks fell on lower commodity prices.
The JSE's Top-40 index of blue chips fell 2.69 percent to 19,919.35 points and the broader All-share index retreated 2.36 percent to 22,174.13 points.
AFRICAN MARKETS
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NIGERIAN MARKETS
Coca Cola (NYSE: KO - news) franchise Nigerian Bottling Company gained the 5 percent maximum on Thursday as investors cash in on lower stock prices to take position ahead of an anticipated rally.
On the flip side, food and beverages maker Nestle (4707.KL - news) shed 5 percent, while Benue Cement, fuel retailer Oando and Guinness Nigeria each fall nearly 5 percent.
NIGERIA-OIL
Algeria oil minister and state-run oil firm NNPC expected to sign deal to build the Trans-Saharan oil pipeline, which experts believe will cost around $13 billion.
KENYAN MARKETS
Prices have been on the up at the Nairobi Stock Exchange all this week. The main 20-share gained 1.8 percent on Thursday to end at at 3,357.66 points.
A total 13 million shares were traded for 172.3 million shillings ($2.26 million) from 208.7 million on Wednesday.
Safaricom, Kenya's biggest company by market capitalisation, had 6.8 million shares traded at an average 3.30 shillings, 10 cents weaker than the previous day.
The Kenyan shilling has strengthen further against the dollar. Banks quoted 75.75/85 at 0608 GMT.
The yield on Kenya's 91-day Treasury bill rose to 7.178 percent at this week's auction from 7.057 percent at the previous sale.
MAURITIUS ECONOMY
Inflation data likely to be released on Friday or Monday. Mauritius has seen a downward trend in inflation in the last six months. Central bank (CBSU.PK - news) expects it to continue falling although rising oil prices have renewed fears of inflationary pressures.
EMERGING MARKETS
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COMMODITIES
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($1=76.30 Kenyan Shilling) Keywords: MARKETS AFRICA FACTORS/
(Compiled by Helen Nyambura-Mwaura)
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