African Markets - Factors to watch on April 25

Kitco Media
By Reuters
Published:
Updated:
Reuters
NAIROBI, April 25 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. - - - - - GLOBAL MARKETS Stocks fell broadly, while the U.S. dollar also weakened early on Tuesday, as investors weigh corporate earnings and economic growth outlooks in a busy week. WORLD OIL PRICES Oil prices were steady on Tuesday as investors weighed strong holiday travel in China that could boost fuel demand against the prospect of rising interest rates elsewhere, slowing economic growth. 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 slipped on Monday as markets awaited economic data out of the U.S. later this week, which could influence the Federal Reserve's rate-hiking cycle.


TANZANIA DEBT


The executive board of the International Monetary Fund on Monday approved the first review of Tanzania's three-year extended credit facility, allowing immediate disbursement of about $153 million in budgetary support, the IMF said in a statement.


SUDAN POLITICS


Sudan's warring factions agreed to a 72-hour ceasefire starting on Tuesday, while Western, Arab and Asian nations raced to extract their citizens from the country.


ZAMBIA DEBT


Zambia has sent a debt restructuring proposal to its official creditors, a spokesperson for the government's advisors said on Monday.


SENEGAL ELECTION


Senegal's presidency on Monday announced it had released politician Idrissa Seck from his duties as head of the Economic, Social and Environmental Council, paving the way for the former prime minister to run for the presidency in the February election.


KENYA CULT


Kenyan police have recovered 73 bodies, mostly from mass graves in a forest in eastern Kenya, thought to be followers of a Christian cult who believed they would go to heaven if they starved themselves, a police officer said on Monday.


KENYA POLITICS


Kenya's main opposition party said on Monday it will resume protests over high living costs and alleged election fraud because of what it called the government's lack of commitment to talks.


UGANDA COFFEE


Uganda's coffee exports edged up in March compared to a year earlier, as exporters released larger volumes from warehouses to cash in on favourable global prices for robusta beans, the state-run sector regulator said.


ETHIOPIA CONFLICT


Ethiopian Prime Minister Abiy Ahmed and the rebel Oromo Liberation Army (OLA) will begin peace negotiations in Tanzania on Tuesday, the two sides said.


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