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African Markets - Factors to watch on April 15

Stock MarketsApr 15, 2021 06:54
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© Reuters.

NAIROBI, April 15 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.

GLOBAL MARKETS

Asian shares were on the backfoot on Thursday following mixed cues from Wall Street where a sharp sell-off in the largest bitcoin exchange Coinbase (COIN.O) hit tech shares while the dollar index struggled near one-month lows.

WORLD OIL PRICES

Oil prices were lower on Thursday though holding near one-month highs after futures jumped in the previous as the International Energy Agency (IEA) and others upgraded forecasts for oil demand as major economies recover from the pandemic. 

SOUTH AFRICA MARKETS

South Africa's rand rallied to its highest in more than 14 months on Wednesday, as improved risk appetite globally and positive local retail sales data supported demand for the currency.

KENYA MARKETS

The Kenyan shilling (KES=) firmed on Wednesday to a nine-month high amid a continued slowdown in importer dollar demand, traders said.

NIGERIA CURRENCY

Nigeria's naira traded at a record intra-day low of 436.81 against the dollar on Wednesday, after the central bank sold $20 million this week to funds seeking to repatriate profits abroad in its first sale to foreign investors, traders said.

BOTSWANA TRADE

Botswana has banned the importation of poultry and poultry products from South Africa after an outbreak of avian influenza was detected on a chicken farm in South Africa, the agriculture ministry said on Wednesday.

UGANDA RATES

Uganda's central bank left its benchmark rate (UGCBIR=ECI) unchanged at 7% for the fifth meeting in a row on Wednesday, saying economic recovery was gaining pace.

MINING

Uganda's cabinet has approved a draft mining law that would allow the government to own shares in private mining operations and impose steep penalties for violations in the sector, including prison terms of up to seven years.

GHANA INFLATION

Ghana's consumer price inflation was at 10.3% year-on-year in March, unchanged from the previous month, the West African nation's statistics service said on Wednesday.

African Markets - Factors to watch on April 15
 

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