African Markets – Factors to watch on April 8

PUBLISHED: Thu, 08 Apr 2021 05:39:37 GMT

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. – – – – – GLOBAL MARKETS Asian share markets lagged on Thursday as U.S. stock futures nudged to another record high after the Federal Reserve underlined its commitment to keeping policy super loose even as the economy enjoys a rapid recovery. WORLD OIL PRICES 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 edged lower on Wednesday in cautious trade as investors awaited local and international signals with little to drive a move in either direction. NIGERIA OIL Nigeria’s oil and gas regulator has revoked four licences held by Addax Petroleum, it said in a statement on Wednesday, a highly unusual move for licences with producing assets. NIGERIA EUROBONDS Nigeria is working on issuing eurobonds and plans to pick advisers through an open bid process, the head of the debt office told Reuters on Wednesday. NIGERIA CORONAVIRUS Nigeria has directed its 36 states and federal capital territory to stop giving first doses of AstraZeneca COVID-19 vaccines once they use half their current stock in order to safeguard supply for the second dose, its health minister said. KENYA MARKETS Kenya’s shilling strengthened further on Wednesday helped by subdued importer demand, remittances and commercial banks offloaded long dollar positions, traders said. TANZANIA PRESS Tanzania revised a decision to lift a ban on all media in the country, clarifying that only online television would benefit from the measure, a government spokesman said in a tweet on Wednesday. UGANDA MARKETS The Ugandan shilling trader stronger on Wednesday on the back of flat importer appetite for hard currency and inflows from exporters of commodities like coffee, tea and others. MOZAMBIQUE INSURGENCY Mozambique has told the international community what support it needs to deal with an Islamic State-linked insurgency, but for reasons of sovereignty it will tackle some aspects of the problem unassisted, its president said on Wednesday. RWANDA FRANCE France will open the Rwanda archives of former French president Francois Mitterrand, as part of an effort to better understand the nation’s role in the African country during its 1990s genocide, President Emmanuel Macron’s office said on Wednesday. ANGOLA ENI Italian energy group Eni plans to spend around $7 billion in Angola over the next four years along with its partners in a country it sees as key to its future growth strategy. IVORY COAST POLITICS Former Ivory Coast President Laurent Gbagbo and one of his close allies have permission to return home following their acquittal on charges of crimes against humanity at the International Criminal Court, President Alassane Ouattara said on Wednesday. ZIMBABWE TOBACCO Zimbabwe expects sales of tobacco, its biggest agricultural export, to increase by 8.7% this year after the southern African country received its highest rainfall in three years, the industry regulator said on Wednesday. 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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