NAIROBI, May 6 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Wednesday.
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GLOBAL MARKETS
Shares struggled and the yen gained on Wednesday, with markets
in China faltering on their return from a long holiday as
investors fretted over Sino-U.S. tensions, while oil ended an
extended winning streak on oversupply risks amid weak
demand. MKTS/GLOB
WORLD OIL PRICES
Oil prices reversed course to edge lower on Wednesday as a
higher than expected rise in U.S. inventories refocused
investors on the risk of oversupply amid a coronavirus-driven
slump in fuel demand. O/R
EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand firmed on Tuesday, shaking off a batch of
poor domestic data recently, as moves by several countries to
ease coronavirus lockdowns lifted global risk
appetite. MARKETS
The Kenyan shilling KES= strengthened on Tuesday as commercial
banks sold off weak dollars, traders said. NIGERIA MARKETS
Nigerian stocks rose 3.12% on Tuesday to record their biggest
rise in three months as shares gained across sectors a day after
the government began a gradual easing of a coronavirus
lockdown. ECONOMY
Nigeria's economy is projected to contract by 3.4%, government
officials said on Tuesday, as dwindling oil revenues and the new
coronavirus forced the country to cut budget plans for a second
time to assume a lower petroleum price of $20 per
barrel. OIL
Nigeria will not hold bidding rounds for major oilfields until
crude prices recover, and some upstream projects will be
completed much later than originally planned, officials said in
a web conference on Tuesday. ELECTIONS
Ethiopia's Tigray region plans to hold elections, its main party
said, setting it on a collision course with the federal
government and testing the country's fragile unity. LOCKDOWN
Uganda began to loosen one of Africa's strictest
anti-coronavirus lockdowns on Tuesday after President Yoweri
Museveni declared the infection "tamed." the latest precious metals report click on GOL/
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