NAIROBI, May 16 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.
GLOBAL MARKETS
Asian stocks were ending a strong week on a softer note on Friday as the euphoria over U.S.-China trade talks faded, while revived bets for policy easing in the United States sparked a rally in beaten-down bond markets.
WORLD OIL PRICES
Oil prices edged up on Friday following a sharp drop in the previous session, heading for a weekly gain of more than 1% as U.S.-China trade optimism outweighed the prospects of Iranian supply returning to the market.
SOUTH AFRICA MARKETS
South Africa’s rand firmed on Thursday, after a deputy finance minister indicated that a lower inflation target could be introduced soon, analysts said.
AFRICA CURRENCIES
The Kenyan and Nigerian currencies are expected to weaken slightly against the dollar in the next week to Thursday, while Uganda’s and Zambia’s may hold steady and Ghana’s could add to recent gains, traders said.
NIGERIA INFLATION
Nigeria’s headline inflation rate fell slightly in April, to 23.71% year on year from 24.23% in March, data from its statistics agency showed on Thursday.
KENYA MARKETS
Kenya’s shilling was stable on Thursday but market participants said it could weaken slightly later in the session due to potentially higher demand for dollars from general goods importers.
AFRICA EBRD
The European Bank for Reconstruction and Development (EBRD) has cleared new member states Nigeria, Ivory Coast and Benin for investments following approval by the development finance institution’s board, it said on Thursday.
RWANDA CENTRAL BANK RATE
Rwanda’s central bank kept its policy rate unchanged at 6.5% in a decision announced on Thursday and said it planned to start buying gold for its international reserves.
GUINEA MINING
Guinea has revoked the licences of 46 mining companies operating in the country, a government source told Reuters on Thursday, while another said it could be up to 53 permits, in what some analysts see as a warning shot to larger operators in the world’s second-largest bauxite producer.
DEMOCRATIC REPUBLIC OF CONGO SECURITY
President Donald Trump’s senior adviser for Africa said on Thursday he spoke with the presidents of Rwanda and Democratic Republic of Congo about a draft peace deal this week, as Washington seeks to end a decades-long conflict in the region.
((Compiled by Nairobi Newsroom))
