NAIROBI, May 15 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.
BOTSWANA – April inflation data due.
Asian stocks were resilient on Monday, edging up to a
two-year high after shaking off threats posed by a
ransomware attack that locked up more than 200,000 computers
in over 150 countries, a missile test by North Korea and
weak U.S. data.
WORLD OIL PRICES
Oil prices jumped by over 1.5 percent on Monday after the
Saudi Arabian and Russian energy ministers said in a joint
statement that an OPEC-led crude production cut would be
extended from the middle of this year until March 2018.
SOUTH AFRICA MARKETS
South Africa’s rand fell on Friday amid political jitters as
the state power company reinstated its former chief
executive, who had resigned after being implicated in a
report by the anti-graft watchdog into alleged
Nigeria’s overnight interbank lending rate rose sharply to
29.5 percent on Friday, up from 19 percent last week, after
the central bank sold treasury bills to soak up liquidity
from the banking system in a bid to curb pressure on the
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.
A Nigerian oil labour union and Exxon Mobil Corp plan
to meet with government officials in an effort to end a
strike over the sacking of workers, a union and government
official said on Friday.
Kenya’s shilling was steady on Friday and traders
said it could come under pressure in the days ahead due to
dollar demand from oil importers.
Kenya borrowed $1 billion via a syndicated loan from
commercial banks, $200 million more than anticipated,
Thomson Reuters publication IFR reported on Friday.
IVORY COAST MUTINY
Troops were advancing towards Ivory Coast’s second largest
city on Sunday, part of an operation the head of the army
said was launched “to re-establish order” on the third day
of a mutiny by soldiers across the country over bonus
Fitch ratings’ decision on Friday to upgrade Ghana’s
sovereign rating outlook to stable shows the confidence of
international stakeholders in the government’s turnaround
strategy, the ministry of finance said in a statement.