#Africa #Markets – Factors to watch on May 9

(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market
moves and political events may affect African markets
on Tuesday.
– – – – –
EVENTS:
SENEGAL – The International Monetary Fund launches its
latest report on the outlook for African economies.

GLOBAL MARKETS
Asian stock markets were mixed on Tuesday following a flat
close on Wall Street, as investors searched for the next
catalyst following France’s presidential election, while oil
inched higher on expectations OPEC supply cuts will be
extended.

WORLD OIL PRICES
Oil prices gave up earlier gains on Tuesday, as concerns
over slowing demand and a relentless rise in U.S. crude
output undermined the impact of hopes that OPEC-led
production cuts could be extended.

SOUTH AFRICA MARKETS
South Africa’s rand weakened on Monday, giving back some of
Friday’s strong gains as investors favoured developed market
currencies after the French election result calmed fears the
country would follow Britain out of the European Union.

NIGERIA MARKETS
The Nigerian naira traded at about 400 to the dollar in
deals for investors on Monday, traders told Reuters, two
weeks after the central bank allowed investor trade in the
currency at market-determined rates.

NIGERIA DOLLARS
Nigeria’s central bank said it released $81.2 mln for dollar
requests on Monday in a continuing drive to improve
liquidity.

KENYA MARKETS
The Kenyan shilling was steady against the dollar on
Monday but demand from the energy sector was seen
outweighing minimal dollar inflows from charities, traders
said.

ZAMBIA WORLD BANK
The World Bank has approved a $200 million credit for Zambia
to improve rural roads in six of the southern African
nation’s 10 provinces, the international lender said on
Monday.

ZIMBABWE ELECTRICITY
South Africa’s state-run power utility Eskom could cut
supplies to neighbouring Zimbabwe by the end of this month
if Harare fails to clear arrears, Zimbabwe’s state-run
Herald newspaper reported on Monday.

——-//

Tanzania – Inflation in April at 6.4% yy (prev 6.4%).

——-//

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