#Africa #Markets – Factors to watch on April 24

NAIROBI, April 24 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.
– – – – –
EVENTS:
*ANGOLA – The central bank to announce its latest decision
on the direction of its key lending rate.

GLOBAL MARKETS
The euro briefly vaulted to five-month peaks on Monday after
the market’s favoured candidate won through the first round
of the French election, reducing the risk of a Brexit-like
shock and sparking a mass unwinding of safe-haven trades.

WORLD OIL PRICES
Oil prices recovered ground on Monday following last week’s
big losses, driven by expectations that OPEC will extend a
pledge to cut output to cover all of 2017, although a
relentless rise in U.S. drilling capped gains.

SOUTH AFRICA MARKETS
South Africa’s rand steadied against the dollar on Friday as
developed market currencies came back in favour, ending a
recent rally that has lifted the unit to 3-week
high.

NIGERIA MARKETS
Nigeria’s interbank lending rate climbed by around 20
percentage points on Friday after the central bank’s sale of
dollar forwards to offset a backlog of forex obligations
drained cash from the money market.

NIGERIA GAS
Nigeria Liquefied Natural Gas (LNG) launched a tender
offering a cargo on May 13-15 on a free-on-board basis,
according to trade sources and a tender
document.

KENYA MARKETS
The Kenyan shilling strengthened slightly against the
dollar on Friday with remittances from Kenyans abroad
offsetting dollar demand from oil importers, traders
said.

UGANDA COFFEE
Uganda’s coffee shipments surged 64.4 percent last month
from the same period last year, buoyed by output from newly
maturing trees, the state-run sector regulator, Uganda
Coffee Development Authority (UCDA), said in a report on
Friday.

MAURITIUS TRADE
Mauritius’ trade deficit widened 15.6 percent to 5.64
billion rupees ($160.68 million) in February from the same
period a year earlier due to a fall in exports of
manufactured goods, the statistics office said on
Friday.

GHANA ECONOMY
Ghana’s central bank will not finance the government’s
budget, its new governor, Ernest Addison, said on Friday as
the regulator seeks to keep fiscal consolidation on
track.

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