Monday August 17, 07:55 AM
African Markets - Factors to watch on August 17
August 17 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.
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GLOBAL
MARKETS
Asian stocks slid after a further deterioration in U.S. consumer confidence cast doubt about the pace of the global economic recovery and soured appetite for risky assets.
Investors sought the safety of U.S. Treasuries after data from the world's largest economy showed consumer confidence fell more than expected in early August.
AFRICAN MARKETS
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SOUTH AFRICAN MARKETS
South African stocks sagged on Friday as miners and banks retreated after a shaky start on Wall Street hit global equities.
The JSE Top-40 index of blue-chip stocks dipped 0.88 percent to 22,431.66 points while the All-share index rose 0.78 percent to 24,815.77 points.
NIGERIA MARKETS
Nigerian shares fell for the fifth day in a row on Friday, dragged by higher selling pressure in the face of weak demand for heavyweight stocks.
The all-share index slid 1.0 percent to 24,237 points.
NIGERIA BANKS
Nigeria's central bank said it is injecting $2.6 billion into five banks and removing their senior managers to see off a a risk to the banking system posed by undercapitalisation.
KENYA MARKETS
The NSE 20 share index rose 0.24 percent to close Friday at 3,262.92 points.
KENYA CORPORATE EARNINGS
The market turns its eye towards Co-operative Bank , which is expected to post its first half earnings this week.
Other banks that have reported earnings have recorded a mixed performance, with Equity Bank reporting a 15 percent decline, and Standard Chartered Kenya trumping it with 43 percent pretax growth.
GHANA INFLATION
Ghana's annual inflation eased to 20.5 percent in July from 20.74 in June. It was the first fall in several months but still way above the 12 percent that officials have predicted by year-end.
ZAMBIA TRIAL
A Zambian court is expected to give its verdict in a case in which former President Frederick Chiluba is charged with stealing nearly $500,000.
KENYA AIRWAYS STRIKE
Kenya Airways said it had reached an agreement with striking workers, halting a two-day strike that led to flight delays and cancellations.
TANZANIA INFLATION
Tanzania's July inflation rose to 10.9 percent, year on year, compared to 10.7 in June, on a jump in fuel drinks and tobacco prices.
EMERGING MARKETS
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COMMODITIES
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BUSINESS DAILY
- Strike pushes KQ (Kenya Airways) into a headwind
- (Kenya National) Bureau (of Statistics) comes under pressure to launch new inflation gauge
THE EAST AFRICAN
- Booze without borders: (Kenyan) Taxman losing billions in spirits exports
- $1.2 bln Karuma power project finally takes off
Keywords: MARKETS AFRICA FACTORS/
(Compiled by Nairobi newsroom)
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