African Markets - Factors to watch on May 12

Kitco Media
By Reuters
Published:
Updated:
Reuters
NAIROBI, May 12 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. - - - - - GLOBAL MARKETS Most Asian share markets were subdued on Friday and the dollar held onto its gains from safe-haven flows, after soft economic data from U.S. and China magnified concerns of a global slowdown, although Japanese stocks outperformed. WORLD OIL PRICES Oil markets regained some ground in early Asian trade on Friday with traders engaged in short-covering ahead of the weekend, but uncertainties regarding the U.S. debt ceiling and renewed fears over a U.S. regional banking crisis capped 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


A sell-off in the South African rand and bonds gathered pace on Thursday, as news reports that South Africa had provided arms to Russia spooked investors already concerned about the economic impact of crippling power cuts.


KENYA MARKETS


The Kenyan shilling dipped slightly against the dollar on Thursday, hurt by oil importers' appetite for hard currency, traders said.


AFRICA MARKETS


Kenya's shilling and Nigeria's naira are forecast to weaken in the next week to Thursday, while the currencies of Ghana, Uganda and Zambia are expected to hold steady, traders said.


SUDAN POLITICS


Sudan's warring factions early on Friday committed to protect civilians and the movement of humanitarian aid, but did not agree to a ceasefire and remain far apart, U.S. officials said.


SOUTH AFRICA DIPLOMACY


The United States envoy to South Africa said on Thursday he was confident that a Russian ship had picked up weapons in South Africa last year, in a possible breach of Pretoria's declared neutrality in the Ukraine conflict.


GHANA DEBT


Ghana's official creditors are poised to grant financing assurances and form a committee co-chaired by France and China - key steps for the nation to secure a $3 billion International Monetary Fund (IMF) loan, sources told Reuters.


RWANDA RATES


Rwanda's central bank on Thursday maintained its key interest rate at 7.0%, noting that inflation although falling remained high.


GUINEA PROTEST


An anti-government movement was planning new protests in Guinean cities on Thursday after its leaders said at least seven people had been killed and 32 injured during demonstrations in the capital Conakry and other towns a day earlier.


SAFARICOM RESULTS


Kenyan telecoms operator Safaricom's core earnings fell by a fifth in the year to March 31, hit by the cost of starting operations in Ethiopia, it said on Thursday.


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