African Markets – Factors to watch on April 20

PUBLISHED: Tue, 20 Apr 2021 05:00:01 GMT

NAIROBI, April 20 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. – – – – – GLOBAL MARKETS Asian shares rose on Tuesday, led by a stronger Chinese opening and shaking off the initial drag from tech-driven Wall Street losses, while the dollar stayed at multiweek lows against other major currencies. WORLD OIL PRICES Oil prices rose on Tuesday as a weaker U.S. dollar supported commodities and on expectations that crude inventories fell in the United States, the world’s biggest oil user, though rising coronavirus cases in Asia capped gains. 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 strengthened on Monday, aided by the U.S. dollar being pinned near a one-month low and greater global risk appetite. KENYA MARKETS The Kenyan shilling weakened slightly on Monday on the back of an uptick in demand for dollars from importers, traders said. NIGERIA BANKS Nigeria’s biggest lender Access Bank has agreed to buy a majority stake in African Banking Corporation of Botswana for cash, a month after acquiring a South African bank. DEMOCRATIC REPUBLIC OF CONGO MINING Kibali Goldmines SA, the Congolese joint venture of Barrick and AngloGold Ashanti , said its 10% shareholder Société Minière de Kilo-Moto (SOKIMO) had filed a financial claim against it in a Kinshasa commercial court. CHAD ELECTION Chad’s veteran president, Idriss Deby, has won a sixth term, provisional election results showed on Monday, as the army said it had beaten back a column of insurgents advancing on the capital, N’Djamena. GHANA MINING China’s Chifeng Jilong Gold Mining on Monday cancelled an agreement to buy the Bibiani gold mine in Ghana, saying it had not received timely information from the seller about the termination of the mining lease. RWANDA TELECOMS MTN Rwandacell Plc, majority-owned by South Africa’s MTN Group , said on Monday trading in existing shares worth about $365 million would start in Rwanda on May 4 after it obtained approvals from authorities and a minority shareholder. 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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