NAIROBI, April 6 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on
– – – – – – –
Stocks fell and bonds rose in Asia on Thursday, with risk
appetite soured by signs the Federal Reserve might start
paring its king-sized asset holdings later this year just as
the chance of early U.S. fiscal stimulus faded further.
WORLD OIL PRICES
Oil prices fell on Thursday as record U.S. crude inventories
underscored that crude markets remain bloated, despite
efforts led by OPEC to cut output and prop up prices.
SOUTH AFRICA MARKETS
South Africa’s rand and government bonds extended losses on
Wednesday following political tensions that led to the
country’s debt being downgraded to junk status by S&P Global
Ratings earlier in the week.
The International Monetary Fund (IMF) warned Nigeria its
economy needs urgent reform in a report published on
Wednesday that highlighted the risks to growth for the
recession-hit country and the dangers of a volatile foreign
Nigeria’s cabinet has approved $1.3 billion of loans from
international lenders to fund the newly licensed Development
Bank of Nigeria, the finance minister said on Wednesday.
Nigeria’s naira weakened against the dollar on the black
market on Wednesday even as the central bank increased the
supply of dollars to currency retail bureaux in an attempt
to boost support for the local currency.
The Kenyan shilling barely moved on Wednesday but was
seen under due to dollar demand from oil companies, traders
Kenya private-sector activity slowed in March, a survey
showed on Wednesday, dropping to its lowest level since the
survey began in 2014, and falling below the threshold
separating an expansion from a contraction.
Kenya has sent a team of scientists and other experts to
investigate reports of crop-eating caterpillars known as
fall armyworms in maize fields in the western region of
Trans-Nzoia, a senior government official said on Wednesday.