NAIROBI, April 12 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.
Uganda’s central bank is due to release its benchmark rate for the next two months. The rate was left unchanged at 6.5% at the last monetary policy committee meeting.
Asian shares were down while the U.S. dollar held strong on Tuesday, as Treasury yields spiked to a three year high ahead of U.S. inflation data which could foreshadow even more aggressive interest rate hikes from the Federal Reserve.
Oil futures rose early on Tuesday, reversing sharp losses from the prior day, as the market weighed the potential for more sanctions on Russia’s energy sector and OPEC warned it would be impossible to increase output enough to offset lost supply.
The South African rand advanced on Monday, supported by higher precious metals prices and shrugging off weaker-than-expected manufacturing numbers.
The Kenyan shilling was steady on Monday although demand for dollars from firms in manufacturing and energy sectors was likely to cause further depreciation, traders said.
Nigerian vice president Yemi Osinbajo said on Monday he wanted to run for president next February on the ruling All Progressives Party ticket but faces a challenge from another party stalwart who said he also wanted to join the race.
Russia’s Nordgold is shutting down its Taparko mine in Burkina Faso and calling force majeure citing the deteriorating security situation in the West African country, according to a company statement seen on Monday.
Ghana plans to issue 24 billion cedi ($3.24 billion) in bonds in second quarter according to a government debt issuance calendar published by the central bank.