(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market
moves and political events may affect African markets
– – – – –
Asian shares inched up Friday, hobbled by a downbeat day on
Wall Street but still on track for weekly rises, while oil
prices extended gains on hopes for output cuts.
WORLD OIL PRICES
Oil prices were stable on Friday as traders expected
OPEC-led production cuts to extend beyond the middle of this
year, and as U.S. crude inventories fell to their lowest
levels since February.
Zambia’s kwacha is expected to firm next week on increased
dollar supply in the market ahead of a government bond sale,
while the Kenyan shilling is seen slipping on a dollar
squeeze amid increased demand from oil importers and general
SOUTH AFRICA MARKETS
South Africa’s rand climbed more than one percent on
Thursday to its firmest level in nearly a week as demand for
emerging currencies continued to improve in the wake of
renewed political uncertainty in the United States.
Nigeria’s stock market was on track for its strongest weekly
gain for 11 months on rising volumes as local funds piled
into equities in the hope that foreign investors will return
with liquidity in the currency market improving, analysts
Nigeria’s parliament signed off on a record 7.44 trillion
naira ($24.4 billion) budget for 2017 on Thursday, aiming to
drag Africa’s biggest economy out of its first downturn in
quarter of a century, lawmakers said.
The Kenyan shilling held steady against the dollar on
Thursday and traders said it was likely to remain hemmed
into a tight range of 103.10-103.50 in the next few days.
The yield on Tanzania’s two-year Treasury bonds edged down
at auction on Wednesday to 16.22 percent from 17.61 percent
at a previous auction in March, the central bank said.
Zambia lifted a ban on maize exports after its production of
the grain rose to 3.61 million tonnes in 2016/2017 from 2.87
million tonnes the previous season, its minister of
Zimbabwean President Robert Mugabe is seeking advanced
treatment in Singapore for eye problems caused by old age
that can make it look as if he has dozed off in public, his
spokesman told a state-owned newspaper.
South Africa – Manufacturing production in March at 0.3% yy (prev -3.7% rev).
South Africa – Mining production at 15.5% yy in March (prev 4.1% rev).
Namibia – Inflation in April at 6.7% yy (prev 7.0%).