#Africa #Markets – Factors to watch on May 8

(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market
moves and political events may affect African markets
on Monday.


SOUTH AFRICA – Gold & FX reserves data for April expected.

TANZANIA – Inflation data for April expected.


The euro hit a six-month high against the dollar on Monday
while Asian shares gained and U.S. stock futures briefly
touched a record high, on investor relief after centrist
Emmanuel Macron comfortably won the French presidential

Oil prices rose on Monday as Saudi Arabia’s energy minister
said an OPEC-led production cut scheduled to end in June
would likely be extended to cover all of 2017, although a
relentless increase in U.S. drilling capped gains.

South Africa’s rand rose against the dollar on Friday,
bouncing from a close-to four-week low earlier in the
session as the dollar weakened ahead of the French
presidential election, while stocks were led higher by
heavyweight rand hedges.

Nigeria’s central bank sold short-term naira debt at yields
above inflation for the third day running on Friday, traders
said, supplementing a run of dollar sales in a two-pronged
effort to prop up the ailing local currency.

The Kenyan shilling was firm against the dollar on
Friday but was seen easing due to piling pressure from oil
importers and multinational companies buying hard currency,
traders said.

The Bank of Ghana said the yield on its weekly 91-day bill
fell to 14.2141 percent at an auction on Friday, from
14.8477 percent at the last sale on April 28.

Mauritius year-on-year inflation rose to 2.9
percent in April compared with 1.3 percent the previous
month, the statistics office said on Monday.

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