Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

African Markets - Factors to watch on May 12

Stock MarketsMay 12, 2021 07:30
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

Global Markets

An extended sell-off drove Asian shares to their lowest in seven weeks on Wednesday as surging commodity prices and growing inflationary pressure in the United States prompted markets to bet on earlier rate hikes and higher bond yields globally. 

World Oil Prices

Oil prices rose on Wednesday, extending overnight gains, after industry data showed a drop in U.S. crude inventories, which reinforced OPEC's robust demand outlook, and as the shutdown of the biggest U.S. fuel pipeline headed into a sixth day. 

South Africa Markets

South Africa's rand touched a 16-month high against the dollar on Tuesday afternoon, helped by manufacturing figures that were far stronger than expected.

Currency

No quotes for the naira (NGN=D1) were available on Nigeria's official market on Tuesday, in its fifth trading session of this month, traders said.

Markets

The Kenyan shilling (KES=) weakened on Tuesday due to increased dollar demand from general merchandise importers and oil companies, traders said.

Climate

Kenya aims to set up an emissions trading system that will allow companies and other bodies to buy emissions allowances, the finance minister said on Tuesday, as the country strives to limit the release of greenhouse gases.

Telecoms

Ethiopia's sole mobile operator, Ethio Telecom, launched a mobile phone-based financial service on Tuesday, seeking to boost growth by offering cashless transactions.

Markets

The Ugandan shilling (UGX=) was firmer on Tuesday amid a continuing slide in appetite for hard currency from importers, traders said.

LGTB

A court in Cameroon sentenced two transgender women on Tuesday to five years in prison for "attempted homosexuality" and other offences after they were arrested for the clothes they wore in a restaurant, their lawyers said.

Leone Mining

U.S. commodity trader Gerald Group will pay Sierra Leone $20 million and cede a 10% stake in an iron ore project as part of the resolution to a nearly two-year dispute that led to the shutdown of production, the two sides said.

Coast Power

A drop in electricity generation in Ivory Coast and Ghana has left households and businesses fuming as well as cutting power supplies to neighbouring West African countries Mali and Burkina Faso, officials said. 

African Markets - Factors to watch on May 12
 

Related Articles

Zumiez Jumps on up to $150 Million Share Buyback Plan
Zumiez Jumps on up to $150 Million Share Buyback Plan By Investing.com - Sep 17, 2021

By Dhirendra Tripathi Investing.com – Zumiez stock (NASDAQ:ZUMZ) climbed 6% Friday after the company said it will repurchase shares worth $150 million. The buyback will close on...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Ocha Lekee
Ocha Lekee Jul 19, 2021 19:46
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Babaash Men
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email