NAIROBI, April 16 - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.
GLOBAL MARKETS
World stock markets fell on Thursday, while bonds and the dollar held on to hefty gains, after a coronavirus-driven plunge in U.S. retail sales and factory production and increasing gloomy economic outlooks for Asia. MKTS/GLOB
WORLD OIL PRICES
Oil rose on Thursday, with U.S. crude rebounding from near-20-year lows in the previous session on hopes that a big build-up in U.S. inventories may mean producers have little option but to deepen output cuts as the coronavirus pandemic ravages demand.
SOUTH AFRICA MARKETS
South Africa's rand tumbled on Wednesday as concerns grew of a deep global recession concentrated in emerging markets, adding to a selloff triggered when the central bank unexpectedly cut local lending rates the previous session.
AFRICA RATING
Ratings agency Moody's cut its forecast for South Africa's economy to a 2.5% contraction in 2020, citing the impact of a nationwide, five-week shutdown aimed at limiting the spread of the novel coronavirus. MARKETS
The Nigerian naira eased to an intra-day low of 388 per dollar on the official market, supported by the central bank on Wednesday, traders said. STOCKS
Nigerian stocks rose 3.02% to almost a one-month high on Wednesday, marking five straight sessions of gains, with Dangote Cement DANGCEM.LG one of the big gainers. RATING
Moody's affirms Nigeria's B2 ratings, maintains a negative outlook.
MARKETS
The Kenyan shilling KES= was stable on Wednesday amid slow trading activity with market players eyeing potential dollar inflows from non-governmental organizations to offer support against importer demand, traders said.
CORONAVIRUS
Africa is expected to reverse an economic contraction linked to the coronavirus crisis next year after containment measures are eased, the International Monetary Fund said, but the impact will be felt for years to come.
MINING
Zambia plans to revoke the mining licences of Glencore (LON:GLEN) GLEN.L subsidiary Mopani Copper Mines (MCM) because the company did not give enough notice before suspending its mining operations due to the coronavirus crisis and other problems.