Market News

June 3 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.

EVENTS:

Asia shares edged cautiously higher on Tuesday while the dollar fell to a six-week low as erratic U.S. trade policies clouded over markets and investors turned defensive ahead of key developments later in the week.

GLOBAL MARKETS

Oil prices ticked up on Tuesday on concerns about supply, with Iran set to reject a U.S. nuclear deal proposal that would be key to easing sanctions on the major oil producer, while weakness in the dollar also supported prices.

WORLD OIL PRICES

Oil prices ticked up on Tuesday on concerns about supply, with Iran set to reject a U.S. nuclear deal proposal that would be key to easing sanctions on the major oil producer, while weakness in the dollar also supported prices.

SOUTH AFRICA MARKETS

The South African rand strengthened against a weaker dollar on Monday, shrugging off a further decline in local manufacturing sentiment and upbeat vehicle sales figures.

KENYA MARKETS

Kenya’s shilling strengthened slightly on Friday, helped by dollar inflows from remittances although the gains were limited by increased foreign-currency demand from general goods importers, traders said.

CONGO SECURITY

Rwanda-backed M23 rebels in Democratic Republic of Congo executed at least 21 civilians over two days in February in the eastern city of Goma, Human Rights Watch said in a report published on Tuesday.

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MALI MINING

A Malian court has adjourned to Thursday a hearing on whether to put Barrick Mining’s ABX.TO Loulo-Gounkoto gold complex under provisional administration, the court’s registry office and one of the lawyers involved told Reuters on Monday.

MALI SECURITY

An Al Qaeda-linked jihadist group active in West Africa’s Sahel region has claimed an attack on a military base in Mali on Sunday that two sources said had killed more than 30 soldiers.

NIGERIA SECURITY

The Nigerian Air Force killed more than 20 armed militia members and destroyed 21 motorcycles in an airstrike in northwestern Zamfara state over the weekend, thwarting a planned large-scale attack on villages, a spokesperson said on Monday.

((Compiled by Nairobi Newsroom))