#Africa #Markets – Factors to watch on April 21

NAIROBI, April 21 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Friday.
– – – – –
GLOBAL MARKETS
Asian stocks were set to end the week with a bang, lifted by
bets on strong U.S. earnings and tax reform, while the euro
retreated from a three-week high as jitters returned over
French presidential elections on Sunday after a shooting in
Paris.

WORLD OIL PRICES
Oil opened the last day of a choppy trading week on a
cautious note over doubts that an OPEC-led production cut
was having the desired effect of restoring balance to a
market that has been dogged by oversupply for more than two
years.

SOUTH AFRICA MARKETS
South Africa’s rand extended gains against the dollar on
Thursday and government bonds firmed, helped by slowing
inflation and the government’s rejection of nationalisation
of mines and banks.

AFRICA CURRENCIES
Nigeria’s naira, is expected to post gains over the next
week as a central bank move to ease business access to
dollars trims demand on the black market, while Zambia’s
kwacha is seen supported by salary payments.

NIGERIA ECONOMY
Nigeria plans to get out of recession by boosting government
revenues and cracking down on corruption, Finance Minister
Kemi Adeosun said on Thursday, and will also issue more
international debt to pay for infrasturcture
projects.

NIGERIA ECONOMY
Nigeria’s naira shot firmer on the country’s black market on
Thursday as traders prepared for the central bank to
increase the dollar supply to exchange bureaux to keep the
official retail rate higher.

ZAMBIA POLITICS
A Zambian court will rule next week on whether to throw out
a treason case against the leader of the main opposition
party whose lawyers say the charges are ambiguous, a
magistrate said on Thursday.

KENYA ELECTIONS
Kenya’s President Uhuru Kenyatta said on Thursday his
government would not tolerate violence between rival camps
of supporters in party primaries before a national election
in August.

KENYA BANKS
Kenya will issue its debut Islamic bond planned for the
fiscal year starting in July under existing laws as it
pushes legal reforms aimed at boosting Islamic finance, a
senior government official said.

IVORY COAST ECONOMY
Ivory Coast has slashed its 2017 budget due to plummeting
cocoa prices, its president said in comments reported in
national media on Thursday, as it seeks to shore up state
coffers also under pressure following payouts to disgruntled
soldiers.

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