African Markets – Factors to watch on April 5

PUBLISHED: Mon, 05 Apr 2021 05:28:01 GMT
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The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. – – – – – GLOBAL MARKETS Global stock prices rose to a 1 1/2-month high on Monday after data showing a surge in U.S. employment while short-dated U.S. bonds came under pressure on worries the Federal Reserve may bump up interest rates sooner than it has indicated. WORLD OIL PRICES Oil prices slipped on Monday, paring strong gains made in the previous session that was driven by the decision by OPEC+ to gradually ease some of its production cuts between May and July. 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 extended gains against the U.S. dollar on Thursday, as positive manufacturing activity and new vehicle sales data pointed to a recovery in the economy. NIGERIA MARKETS Islamist insurgency Boko Haram claimed the shooting down of a Nigerian Air Force fighter jet in a video seen by Reuters on Friday, two days after the aeroplane went missing in the country’s northeast. KENYA MARKETS Kenya’s shilling was stable on Thursday, and was expected to gain ground, helped muted importer demand, remittance inflows and commercial banks shedding their long dollar positions, traders said. KENYA IMF The International Monetary Fund on Friday said its board had approved new three-year financing arrangements for Kenya valued at $2.34 billion to help the African country continue responding to the COVID-19 pandemic and address its debt vulnerabilities. SOMALIA ATTACK At least 10 people were killed on Saturday when a suicide bomber struck makeshift kiosks in the Somali capital, hitting hours after al Shabaab Islamist militants attacked two National Army bases outside the city, the government said. ETHIOPIA CONFLICT Eritrean forces have started withdrawing from the Tigray region in northern Ethiopia, the Ethiopian Foreign Ministry said, following mounting reports blaming the Eritreans for human rights abuses including rape, looting and killings of civilians. MOZAMBIQUE INSURGENCY Luisa Jose, a 52-year-old mother of five, says she came face-to-face with Islamic State-linked insurgents when they attacked the gas hub town of Palma in northern Mozambique 10 days ago. NIGER POLITICS Niger’s newly elected President Mohamed Bazoum has appointed former minister Ouhoumoudou Mahamadou as prime minister to lead his government, according to a decree read on national television late on Saturday. CHAD NIGER/SECURITY Chad’s government said on Saturday that soldiers accused of at least three rapes in Niger, including that of an 11-year-old girl, have been arrested and will face punishment. 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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