#Africa #Markets – Factors to watch on April 28

NAIROBI, April 28 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.
– – – – –
EVENTS:
*Kenya, Uganda to release consumer inflation data for April
anytime starting on Friday.
*MAURITIUS – The central bank auctions 91-day, 182-day and
364-day Treasury bills worth a total 2.3 billion rupees.

——–//

SOUTH AFRICA – M3 and PSCE data for March due.

——-//

GLOBAL MARKETS
Asian stocks slipped on Friday as investors took profits
after a strong week, while the Korean won weakened after
U.S. President Donald Trump said he would renegotiate or
terminate a trade deal with South
Korea.

WORLD OIL PRICES
Oil prices rose on Friday but were still on track for a
second straight weekly loss on concerns that an OPEC-led
production cut has failed to significantly tighten an
oversupplied market.

NIGERIA MARKETS
Nigeria’s central bank has eliminated “frivolous demand” for
foreign currency by introducing a multiple exchange rate
system and has been intervening on the spot and forward
markets to boost liquidity, its spokesman said on
Thursday.

NIGERIA PETROLEUM LAW
Nigeria’s upper house of parliament aims to pass
long-delayed legislation by the end of the year to reform
the oil industry, which provides 70 percent of national
income, a senator said on Thursday.

NIGERIA BUDGET
Nigeria’s upper house of parliament aims to pass the
government’s 2017 spending plan next week, Senate leader
Ahmed Lawan said on Thursday.

KENYA MARKETS
The Kenyan shilling was stable against the dollar on
Thursday due to weak oil importer demand being countered by
dollar inflows from charities and hotel bookings, traders
said.

KENYA POLITICS
Veteran politician Raila Odinga will represent Kenya’s
opposition alliance in the presidential election in August,
his fourth time as a presidential candidate.

KENYA INSURANCE
Kenyan insurer CIC Group expects its Uganda and
Malawi businesses to break even in the next two years, its
chief executive officer said on Thursday.

——-//

Zambia – Inflation in April at 6.7% yy (prev 6.7%).

——-//

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