#Africa #Markets – Factors to watch on April 10

(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market
moves and political events may affect African markets
on Monday.
– – – – –
EVENTS:
Tanzania releases consumer inflation data for March.

Rwanda releases consumer inflation data for March.

GLOBAL MARKETS
Asian stocks slipped on Monday as increased geopolitical
risks prompted investors to favour safe-haven bets such as
government debt while the greenback was supported by Federal
Reserve policy tightening
expectations.

WORLD OIL PRICES
Oil prices were firm on Monday, supported by strong demand
and political uncertainty in Syria, although another rise in
U.S. drilling activity kept a lid on gains.

SOUTH AFRICA MARKETS
South Africa’s rand slipped on Friday after a second
ratings agency, Fitch, downgraded the country’s credit
status to “junk” on economic uncertainty after last week’s
sacking of Finance Minister Pravin Gordhan.

NIGERIA MARKETS
Nigeria’s naira slid pass 400 on the black market on Friday
amid tight dollar supply, despite a series of currency
forwards sold by the central bank this month to clear demand
for the U.S. currency on the official market, traders
said.

NIGERIA OIL
Nigeria’s Warri oil refinery is up and running after a
period of maintenance, and operating at 60 percent of its
installed capacity, a spokesman for state oil firm Nigerian
National Petroleum Corporation said on Friday.

KENYA MARKETS
The Kenyan shilling weakened slightly against the
dollar on Friday due to demand from multinational companies
in sectors like telecommunications buying hard currency to
settle transactions, traders said.

KENYA TREASURY BOND
Kenya will sell two re-opened 10-year Treasury bonds worth
30 billion shillings ($290.4 million) this month, the
central bank said on Sunday.

GHANA COCOA
Ghana is on track to exceed its revised 800,000-tonne target
for cocoa production this season due to good rains this
year, the chief executive of regulator Cocobod said on
Friday.

UGANDA MARKETS
The Ugandan shilling was stable on Friday, helped by
muted demand for dollars from manufacturers, telecoms and
commercial banks.

UGANDA CORRUPTION
Ugandan police said on Saturday a minister had been arrested
for taking a bribe from a hotel owner after promising he
would in return help him deal with sexual harassment
accusations from one of his workers.

SOMALIA HIJACK
A Chinese navy ship supported by an Indian navy helicopter
thwarted an attack by suspected Somali pirates on a
Tuvalu-flagged merchant ship, India’s defence ministry said
on Sunday.

SOUTH SUDAN UNREST
South Sudanese authorities are blocking United Nations
peacekeepers from visiting a town where soldiers are alleged
to have killed civilians including children this week, a
U.N. spokeswoman said on Friday.

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