#Africa #Markets – Factors to watch on April 7

NAIROBI, April 7 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.
– – – – –
EVENTS:
SEYCHELLES – the statistics office is due to release March
consumer price index data

GLOBAL MARKETS
Safe-haven bonds and the yen jumped in Asia on Friday as
stocks slipped after the United States launched cruise
missiles against an air base in Syria, raising the risk of
confrontation with Syrian backers Russia and Iran.

WORLD OIL PRICES
Oil prices surged more than 2 percent on Friday after the
United States launched dozens of cruise missiles at an
airbase in Syria.

SOUTH AFRICA MARKETS
South Africa’s banking index hit its biggest daily loss
since December 2015 on Thursday, dragging the bourse down
after S&P cut the credit ratings of major lenders following
a sovereign downgrade

NIGERIA MARKETS
Nigeria’s central bank offered $100 million in currency
forwards on Thursday, to be settled within 60 days, the bank
said in a statement.

NIGERIA ENERGY
Nigeria aims to legalise illicit oil refineries in the
turbulent Niger Delta region, the vice-president’s office
said on Thursday, hoping to bring peace to the production
heartland for the crude on which the country relies.

KENYA MARKETS
The Kenyan shilling was steady against the dollar on
Thursday due to foreign exchange inflows from charities and
horticulture exporters mitigating demand from oil importers,
traders said.

IVORY COAST BUDGET
The International Monetary Fund on Thursday gave Ivory Coast
more leeway in setting its budget in 2017, citing external
shocks including a 35 percent drop in global cocoa prices
that it said had hit exports and fiscal revenue.

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