off-the-wire

African Markets - Factors to watch on April 4

Kitco Media
By Reuters
Published:
Updated:
Reuters
NAIROBI, April 4 (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 stocks dithered on Tuesday as investors grappled with inflation concerns in the wake of the surprise cuts to the OPEC+ group's oil output targets, while treasury yields retreated after frail U.S. manufacturing sector data. WORLD OIL PRICES Oil prices steadied in early Asian trade on Tuesday after OPEC+ plans to cut more production jolted markets the previous day, with investors' attention shifting to demand trends and the impact of higher prices on the global economy. 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 was flat on Monday, having regained its losses from earlier in the day after a decision by major oil producers to reduce supply caused the dollar to briefly spike.


KENYA MARKETS


The Kenyan shilling was stable against the dollar on Monday, shored up by increased hard currency liquidity thanks to the revival of the long-dormant interbank market, traders said.


NIGERIA MARKETS


Nigeria's naira dropped to a record low of 465 per dollar on the official market on Monday, Refinitiv data showed, as traders await the outcome of Friday's central bank foreign exchange auction.


KENYA POLITICS


Kenya's top prosecutor on Monday dropped charges against four lawmakers over anti-government protests, a day after opposition leader Raila Odinga suspended the demonstrations, their lawyer said.


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