African Markets - Factors to watch on April 13

Kitco Media
By Reuters
Published:
Updated:
Reuters
NAIROBI, April 13 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. - - - - - EVENTS: Ghana's government will hold a presentation on Thursday to update interested stakeholders on the country's latest macroeconomic development and the guiding principles for the upcoming public debt restructuring.


GLOBAL MARKETS Asian stocks struggled on Thursday, dragged by selling in Hong Kong tech shares, while the dollar was under pressure and short-dated bonds were firm as softening U.S. inflation seemed to suggest the U.S. rate hike cycle was nearing its end. WORLD OIL PRICES Oil prices retreated on Thursday after rising for two sessions, with investors still showing lingering concern over a possible U.S. recession and weaker oil demand. 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


The South African rand gained modestly on Wednesday as the dollar fell globally on data showing cooler-than-expected U.S. headline inflation in March.


KENYA MARKETS


The Kenyan shilling was broadly stable against the dollar in a quiet market on Wednesday, traders said.


SOMALIA CLIMATE CRISIS


Somalia is suffering from the impact of a climate crisis it has done almost nothing to create, United Nations chief Antonio Guterres said on Wednesday, as a full-blown famine threatens to follow a drought that killed 43,000 people last year.


GHANA INFLATION


Ghana's consumer inflation slowed to 45.0% in annual terms in March from 52.8% in February, the statistics service said on Wednesday.


ETHIOPIA SECURITY


Businesses reopened and traffic was back in urban centres of Ethiopia's Amhara region on Wednesday after six days of violent protests over a planned shakeup of local forces, residents said.


SUDAN POLITICS


The Sudanese army warned in the early hours of Thursday of what it described as a "mobilisation of forces and redeployment" by the Rapid Support Forces (RSF) in the capital Khartoum and other cities.


GHANA MALARIA


A keenly-watched malaria vaccine from Oxford University has secured its first approval, in Ghana, as the African country ramps up efforts to combat the mosquito-borne disease that kills a child every minute.


ZAMBIA DEBT


Zambian Finance Minister Situmbeko Musokotwane on Wednesday welcomed growing awareness about the risks of a sovereign debt crisis among developing countries, and said he was seeing "positive dynamics" in global discussions on the issue.


KENYA DEBT


Kenya expects at least $1.2 billion in financing inflows between April and May and is in talks for new funding from the International Monetary Fund (IMF) to support falling foreign exchange reserves, its central bank governor said on Wednesday.


MALAWI STORM


The death toll from Cyclone Freddy has risen sharply to more than 1,000 people, Malawi President Lazarus Chakwera said on Wednesday, as the southern African nation continues to recover from one of the deadliest storms to hit the continent in the last two decades.


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