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NAIROBI, May 18 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Monday.
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GLOBAL MARKETS
Asian shares were led higher by S&P 500 futures on Monday
and oil prices hit a five-week peak as countries' efforts to
re-open their economies stirred hopes the world was nearer
to emerging from recession. MKTS/GLOB
WORLD OIL PRICES
Oil prices climbed by more than $1 a barrel on Monday to
their highest in more than a month, supported by ongoing
output cuts and signs of gradual recovery in fuel demand as
more countries ease curbs imposed to stop the coronavirus
pandemic spreading. O/R
EMERGING MARKETS
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STOCKS
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SOUTH AFRICA MARKETS
South Africa's rand fell on Friday and ended lower on the
week as fears about a resurgence of coronavirus infections
hurt sentiment toward the emerging markets. PETROLEUM
OPEC member Nigeria has reined in oil production to bring
Africa's top crude exporter into line with an agreement
among producers to curb output, Minister of State for
Petroleum Timipre Sylva said. COCOA
Nigeria's cocoa mid-crop output is expected to be weak as
measures to curb the spread of the coronavirus hindered
farmers and exporters, creating a backlog of unshipped
beans, the president of the cocoa association
said. MARKETS
The Kenyan shilling KES= was under slight pressure on
Friday due to an uptick in demand from businesses buying
hard currency to meet their obligations as economic activity
slowly resumes amid the novel coronavirus pandemic, traders
said. DEBT
Kenya will not seek a suspension of debt payments under a
G20 initiative aimed at helping poor countries weather the
COVID-19 pandemic, its finance minister said on Friday,
saying the terms of the deal were too
restrictive. EAST AFRICAN BREWERIES RESULTS
Kenya's East African Breweries Limited (EABL) EABL.NR has
said its profit after tax for the year ending June is likely
to decline by 25% compared to the previous period, hurt by
the coronavirus pandemic. BORDER CLOSURES
Kenya's President Uhuru Kenyatta on Saturday banned movement
across the country's borders with Tanzania and Somalia to
help curb the spread of the coronavirus. ECONOMY
Tanzania's economy is expected to expand by 4 percent in
2020, less than an earlier projection of 6.9% due to the
impact of the coronavirus, the finance minister
said. ECONOMY
Uganda's foreign exchange reserves will fall to a worryingly
low level in the fiscal year starting in July unless it
receives external funding then, the International Monetary
Fund said on Friday. POLITICS
Burundi holds its first competitive presidential election
this week since a civil war erupted in 1993, but simmering
political violence and fears that campaign rallies could
accelerate the spread of the coronavirus have already marred
campaigning. AIRLINE
Ethiopian Airlines expects a settlement with planemaker
Boeing BA.N by end of June over compensation related to
the 737 MAX grounding in March 2019 following two fatal
crashes, CEO Tewolde Gebremariam told Reuters on
Friday. CENTRAL BANK RATE
Ghana's central bank left its key interest rate unchanged at
14.5% on Friday and said it had concluded a $1 billion repo
facility with the U.S. Federal Reserve to improve the
country's foreign exchange liquidity. the latest precious metals report click on GOL/
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