African Markets - Factors to watch on May 11

Kitco Media
By Reuters
Published:
Updated:
Reuters
NAIROBI, May 11 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on May 11. - - - - - EVENTS: Kenyan telecoms operator Safaricom is due to announce its full-year financial results. The company, which also operates in Ethiopia, recorded a 14% rise in its earnings before interest and taxes (EBIT) to 109.1 billion shillings in its year to the end of March 2022.


GLOBAL MARKETS Asian shares rose on Thursday as investors cheered signs of easing inflationary pressure in the U.S. after data showed consumer prices in April rose at a slower-than-expected pace. WORLD OIL PRICES Oil prices bounced back on Thursday after dropping by more than a dollar a barrel the previous day, supported by stronger fuel demand data from the United States, the world's top oil consumer. 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 plunged to a three-year low on Wednesday after a steep drop in the previous day, while international and domestic government bonds also fell, as fears grew of scheduled blackouts known as load-shedding worsening during winter.


KENYA MARKETS


The Kenyan shilling was broadly steady against the dollar on Wednesday as the interbank market helped smooth out an underlying shortage of foreign currency, traders said.


SUDAN POLITICS


Fighting in Sudan's capital escalated on Wednesday with fierce clashes and air strikes, but rival military factions were reported to be close to a ceasefire agreement in talks in Saudi Arabia.


GUINEA POLITICS


Two people died and many were injured during clashes on Wednesday between riot police and anti-government protesters in Guinea's capital Conakry, two doctors who worked in a city clinic and a human rights advocate told Reuters.


NIGERIA ARTEFACTS


A British university has postponed the return of more than 100 Benin Bronzes to Nigeria after a presidential decree named a royal ruler as the owner and custodian of all returned artefacts, the head of museums and monuments said on Wednesday.


KENYA CULT


A Kenyan court on Wednesday denied bail for cult leader Paul Mackenzie, who authorities say ordered followers to starve their children and themselves to death, and extended his detention by 30 days.


TANZANIA COAL


Tanzania's earnings from coal exports jumped seven times in dollar terms in the year to the end of March from the previous year, central bank data showed, as the Ukraine war drove buyers to hunt for new sources of the fuel.


CONGO PIPELINE


The Democratic Republic of Congo is in discussions with neighbouring Uganda for possible use of the east African country's planned crude oil pipeline to export petroleum, Congo's hydrocarbons ministry said.


SENEGAL POLITICS


A 15-year-old girl was killed and about 30 people were wounded during clashes between protesters and security forces in Senegal's capital Dakar on Tuesday night, a local official said on Wednesday.


NIGERIA OIL


The UK Supreme Court ruled on Wednesday that it was too late for Nigerian claimants to sue two Shell SHEL.L subsidiaries over a 2011 offshore oil spill they say had a devastating long-term impact on the coastal area where they live.


GHANA INFLATION


Ghana's consumer inflation slowed to 41.2% annually in April from 45.0% in March, the statistics service said on Wednesday.


CONGO SECURITY


The East African Community (EAC) force deployed to help fight M23 rebels in eastern Democratic Republic of Congo could leave as early as next month if it does not fulfil its mandate, Congolese President Felix Tshisekedi said on Tuesday.


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