Market News

NAIROBI, June 30 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.

EVENTS

Statistics offices in Kenya and Uganda to release their June consumer price index (CPI) data.

GLOBAL MARKETS

Asia shares firmed on Monday as signs of progress in a trade standoff between the United States and Canada helped risk sentiment, while the dollar dipped on concerns U.S. jobs data will show enough weakness to justify larger rate cuts.

WORLD OIL PRICES

Oil prices fell on Monday as an easing of geopolitical risks in the Middle East and the prospect of another OPEC+ output hike in August improved supply expectations amid persistent uncertainty over the outlook for global demand.

SOUTH AFRICA MARKETS

The South African rand was slightly up on Friday after sharp falls a day earlier, shrugging off a dispute between President Cyril Ramaphosa and his main coalition partner.

TANZANIA PUBLIC FINANCES

The International Monetary Fund has approved an immediate disbursement of approximately $448.4 million (SDR 326.47 million) to Tanzania under the Extended Credit Facility and Resilience and Sustainability Facility arrangements, the IMF said on Friday.

DEMOCRATIC REPUBLIC OF CONGO WAR

Rwanda and Democratic Republic of Congo signed a U.S.-brokered peace agreement on Friday, raising hopes for an end to fighting that has killed thousands and displaced hundreds of thousands more this year.

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IVORY COAST COCOA

Ivory Coast plans to increase domestic cocoa processing to 50% of its national output within two years, up from 42% currently, the head of the national regulator said while inaugurating its second 50,000-metric ton grinding plant.

((Compiled by Nairobi Newsroom))