off-the-wire

African Markets - Factors to watch on April 27

Kitco Media
By Reuters
Published:
Updated:
Reuters
NAIROBI, April 27 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. - - - - - EVENTS: Two Kenyan courts are due to hear cases against Facebook parent company Meta Platforms.


GLOBAL MARKETS Asian shares extended losses on Thursday as troubles at U.S. lender First Republic Bank continued to unnerve investors amid concerns that growth in the world's biggest economy could very well surprise to the downside. WORLD OIL PRICES Oil prices rose slightly on Thursday, finding some support after heavy losses in the previous two sessions that were driven by fears of a U.S. recession and an increase in Russian oil exports which dulled the impact of OPEC production cuts. 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 was steady against the dollar on Wednesday following data showing a dip in local producer inflation.


KENYA MARKETS


Kenya's shilling slipped lower against the dollar on Wednesday, as companies required hard currency to meet end-month payments, while fuel and merchandise importers also sought foreign exchange, traders said.


SUDAN POLITICS


Sudan's army and a paramilitary force battled on Khartoum's outskirts on Wednesday, undermining a truce in their 11-day conflict, but the army expressed willingness to extend the ceasefire.


MOZAMBIQUE GAS


Mozambique President Filipe Nyusi on Wednesday said it was safe for TotalEnergies to restart the Cabo Delgado liquefied natural gas (LNG) project that was halted in 2021 after insurgent attacks on civilians.


KENYA CULT


The leader of a Kenyan cult told his followers the world would end on April 15 and instructed them to starve themselves to be the first to go to heaven, a relative of cult members and hospital staff told Reuters on Wednesday.


GHANA ECONOMY


Some investors of Ghana's 2030 Eurobond XS1297557412=TE have received coupon payments which had been due on April 14, a source with direct knowledge of the matter said on Wednesday.


UGANDA LGBT


Uganda's President Yoweri Museveni has asked lawmakers to make clear in a proposed anti-homosexuality law that it is not criminal to merely identify as gay, as part of an attempt to tone down a bill that has drawn international condemnation.


For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on

499 1232))
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.