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African Markets - Factors to watch on April 23

Published 23/04/2021, 06:01
© Reuters.
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NAIROBI, April 23 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

GLOBAL MARKETS
A key gauge of Asian shares rose on Friday, supported by gains in China and a decision by the European Central Bank to maintain stimulus, while investors largely shrugged off the impact of a possible U.S. capital gains tax hike. 

WORLD OIL PRICES
Oil prices rose on Friday on hopes of a fuel demand recovery in the United States and Europe as economic growth picks up and lockdowns ease, but worries about India's raging second wave of COVID-19 cases kept a lid on gains. 

SOUTH AFRICA MARKETS
South Africa's rand weakened on Thursday, in uncertain trade globally, as investors awaited the next moves in lending rates in the United States and Europe and weighed the impact on economic recovery of delayed vaccine rollouts.

MARKETS
The Kenyan shilling (KES) weakened slightly on Thursday, traders said, amid increased demand from oil importers, manufacturing and agricultural importers as well.

CURRENCIES
Kenya and Zambia's currencies are expected to come under pressure next week though Uganda's will likely firm against the U.S. dollar, analysts and traders said. Nigeria and Tanzania's currencies are seen holding steady.

CORONAVIRUS
The African Union's disease control body and World Health Organization on Thursday urged African countries not to waste COVID-19 vaccines donated to them, after confusion in Malawi and South Sudan about whether doses they received had expired.

SECURITY
Foreign leaders arrived in Chad on Thursday for the funeral of slain president Idriss Deby as France backed the new military leaders in the face of rebel threats to resume an offensive on the capital N'Djamena.

SECURITY
The U.N. Security Council expressed concern on Thursday about the humanitarian situation in Ethiopia's Tigray region, particularly abuse of women and girls, a week after the U.N. aid chief said sexual violence was being used as a weapon of war.

REPUBLIC OF CONGO REPARATION
Uganda on Thursday told the International Court of Justice that the over $13 billion dollars in reparations sought by Congo for Kampala's role in conflicts in Congo's Ituri province could ruin its economy. 

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