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African Markets - Factors to watch on April 30

Published 30/04/2021, 06:02
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NAIROBI, April 30 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

GLOBAL MARKETS
Asian shares slipped on Friday but world stocks held near a record high after strong U.S. economic data and the Federal Reserve's commitment to continue supporting the economy fuelled investors' appetite for risk. 

WORLD OIL PRICES
Oil prices slipped on Friday, taking a breather after touching their highest in six weeks as economic recovery and bullish summer fuel demand outlook outweighed concerns of wider lockdowns in India and Brazil to curb COVID-19 pandemic.

SOUTH AFRICA MARKETS
South Africa's rand weakened on Thursday as investors took profits on a brief rally spurred by the dovish tone of the U.S. Federal Reserve at its policy-setting meeting, reflecting cautious market sentiment towards the local currency.

MARKETS
The Kenyan shilling KES was stable on Thursday, traders said, mostly due to muted dollar demand from importers.

CORONAVIRUS
The raging state of the COVID-19 pandemic in India is a wake-up call for Africa that its governments and citizens must not let their guards down, the African Union's disease control agency warned on Thursday.

BANKS
Nigeria's central bank on Thursday sacked the entire board of First Bank of Nigeria and appointed new directors, the regulator said in a statement, citing the previous board's "sweeping changes" without alerting regulatory authorities.

SECURITY
Chad's army battled with rebels on Thursday near the town of Nokou, about 20 km (12 miles) from where former president Idriss Deby was fatally wounded 10 days ago, rebels and the army said.

MINING
A new gold refinery set to be the biggest in Tanzania has begun production in a step towards the government's aim of processing more of the precious metal domestically.

CURRENCIES
Kenya's and Nigeria's currencies are expected to trade within existing ranges in the coming week, analysts and traders said. Tanzania's currency is seen holding steady, while Uganda's is expected to firm.

REPUBLIC OF CONGO VACCINES
The Democratic Republic of Congo has begun re-deploying hundreds of thousands of COVID-19 vaccines to other African nations which it says it won't be able to administer before they expire at the end of June, its health minister said on Thursday. 

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