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African Markets – Factors to watch on April 19

PUBLISHED: Mon, 19 Apr 2021 05:00:05 GMT

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NAIROBI, April 19 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. – – – – – GLOBAL MARKETS Asian shares hovered near 1-1/2 week highs on Monday helped by expectations monetary policy will remain accommodative the world over, while COVID-19 vaccine rollouts help ease fears of another dangerous wave of coronavirus infections. WORLD OIL PRICES Oil prices fell on Monday amid mounting concerns that surging caseloads of coronavirus infections in India and other countries will lead to stronger measures and hit economic activity, along with demand for commodities such as crude. EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on African stocks, click on SOUTH AFRICA MARKETS South Africa’s rand fell on Friday, but looked set for weekly gains after a rally the day before that took it to its best level in 15 months as falling yields in the United States drove global demand for risk assets. KENYA MARKETS Kenya’s shilling weakened on Friday, giving up its gains from earlier in the week, driven by importers who stepped in to take advantage of the rally. NIGERIA OIL Nigeria has sweetened the terms of a sweeping oil reform bill in a bid to attract much-needed investment to its oil industry, four people closely involved with the legislation said and a letter from oil companies, seen by Reuters, showed. DEMOCRATIC REPUBLIC OF CONGO ECONOMY Democratic Republic of Congo’s central bank slashed its benchmark interest rate on Friday by 500 basis points to 10.5% from 15.5%, saying slowing inflation had created space for its second successive large rate cut. UGANDA ELECTION The United States is imposing visa bans on Ugandan government officials accused of human rights violation and repressive acts that tainted the January election, putting pressure on longtime Western ally President Yoweri Museveni. ANGOLA OIL Global commodities trader Trafigura TRAFGF.UL has agreed to buy Angolan state oil giant Sonangol’s 31.78% stake in loss-making Puma Energy for $600 million in a step towards raising its holding to more than 90%. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on

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