African Markets - Factors to watch on May 1

Kitco Media
By Reuters
Published:
Updated:
Reuters
NAIROBI, May 1 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. - - - - - WORLD OIL PRICES Oil prices fell on Monday as jitters over the prospect of the U.S. Federal Reserve raising interest rates, which could slow growth and hit fuel demand, and worries about weaker Chinese manufacturing data combined to erase earlier gains. 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 little changed against the dollar on Friday, as local budget and trade data failed to offer much relief to investors in Africa's most industrialised economy. NIGERIA CRUDE OIL
More Nigerian export plans for June emerged as production resumed on ExxonMobil-operated crude oil streams, though official selling prices were still awaited. KENYA MARKETS Kenya's shilling held its ground against the dollar on Friday, as traders were cautious before the introduction of oil import deals that should ease persistent FX demand from fuel marketers. KENYA INFLATION Kenya's inflation dropped to 7.9% year-on-year in April from 9.2% a month earlier, helped by some food items dropping in price, data from the statistics office showed on Friday. TANZANIA ECONOMY Tanzania's economy is expected to grow faster this year compared with a year earlier, but performance could be dampened by effects of the war in Ukraine, Finance Minister Mwigulu Nchemba said in a letter to the International Monetary Fund. GHANA DEBT Ghana's government will immediately commit $750 million, including a $250 loan from the World Bank, to a financial stability fund set up to provide liquidity support to banks participating in a domestic debt exchange, minister of state for finance Mohammed Amin Adam said on Friday. BOTSWANA CENTRAL BANK RATE Botswana's central bank kept its monetary policy rate unchanged at 2.65% on Friday, despite inflation rising in the latest month. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on (Compiled by Nairobi Newsroom)

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