African Markets - Factors to watch on April 14

Kitco Media
By Reuters
Published:
Updated:
Reuters
NAIROBI, April 14 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. - - - - - EVENTS: Nigeria's statistics office is expected to release the latest inflation data.


GLOBAL MARKETS Asian shares firmed on Friday as Singapore became the latest country to pause its policy tightening and markets became more confident the likely next hike in U.S. rates would be the last this cycle. WORLD OIL PRICES Oil prices rose on Friday on signs of lower Russian output and tighter supplies, with the market looking ahead to the International Energy Agency's (IEA) monthly report later in the day to clarify the global demand outlook. 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 jumped on Thursday as the dollar fell after U.S. data showed producer prices dropped last month, fuelling expectations that the Federal Reserve is near the end of its rate-hiking cycle.


KENYA MARKETS


The Kenyan shilling edged lower against the dollar on Thursday as the manufacturing sector sought foreign currency to pay for imports, amid thin trading volumes, traders said.


SUDAN SECURITY


Sudan's army warned on Thursday of a risk of confrontation after mobilisations by a powerful paramilitary group, underlining growing strains between the rival forces and a potential complication in moves to restore civilian rule.


ANGOLA DEBT


Angola's next sovereign debt issuance will be an ESG bond of up to $1 billion, its finance minister told Reuters on Thursday, but she added that the southern African oil producer's government would not tap the market this year.


KENYA POLITICS


Kenya's opposition alliance is prepared to negotiate with the government over electoral reforms and the high cost of living, while also resuming protests, opposition leader Raila Odinga said on Thursday.


ETHIOPIA IMF


Ethiopia is in talks with the International Monetary Fund (IMF) to borrow at least $2 billion under a reform program, four sources familiar with the matter told Reuters.


TANZANIA RAILWAY


Tanzania's auditor general has accused Standard Chartered STAN.L of demanding that the state rail company hire a Turkish contractor who overpriced the cost of building track in a $10 billion mega-project.


GHANA DEBT


Ghana expects the International Monetary Fund's board to approve a $3 billion loan by the end of the second quarter of 2023, Finance Minister Ken Ofori-Atta said in a presentation on Thursday.


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