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African Markets - Factors to watch on April 29

Published 29/04/2021, 05:31
© Reuters.
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NAIROBI, April 29 (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 rose in early trade on Thursday after the U.S. Federal Reserve said it was too early to consider rolling back emergency support for the economy, and as U.S. President Joe Biden unveiled plans for a $1.8 trillion stimulus package. 

WORLD OIL PRICES
Crude prices rose more than 1% on Wednesday, after U.S. distillate inventories posted a large drawdown and refiners ramped up activity to the highest in over a year, boosting hopes for rising fuel demand in the world's top oil consumer. 

SOUTH AFRICA MARKETS
South Africa's rand firmed on Wednesday as the global hunt for high yields trumped caution ahead of the U.S. Federal Reserve's latest policy decision which will likely set the tone for global currency trading in the coming sessions.

MARKETS
The Kenyan shilling (KES) was stable on Wednesday, traders said, on the back of subdued demand for dollars from importers.

CORONAVIRUS
Kenya's health minstry said on Wednesday it was suspending flights to and from India after midnight on Saturday amid the coronavirus surge in that country.

SECURITY
The capital of Chad appeared calm on Wednesday morning, with security forces deployed in large numbers and burning tyres still smouldering in the streets, a day after at least five people were killed in clashes between protesters and the army.

SECURITY
Members of Somalia's opposition on Wednesday refused to withdraw from fortified positions in the capital after the president tried to defuse an armed standoff by promising to appear before parliament to debate a proposal to extend his term by two years.

MINING
Ghana's military has launched a nationwide operation to clear illegal miners out of its water bodies, the West African country's lands minister said in on Wednesday.

LNG
Tokyo Gas Co Ltd (9531.T) has not been notified of any delays in the liquefied natural gas (LNG) project in Mozambique by Total (TOTF.PA) despite the French energy group's recent declaration of force majeure, a senior company official said on Wednesday. 

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