Two 59%+ winners, four above 25% in Aug – How this AI model keeps picking winners
NAIROBI, May 22 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Friday.
- - - - -
GLOBAL MARKETS
Hong Kong shares tumbled on Friday after Beijing moved to
impose a new security law on the city after last year's
pro-democracy unrest, risking fresh protests and further
straining fast-deteriorating U.S.-China
ties. MKTS/GLOB
WORLD OIL PRICES
Oil prices slumped on Friday after China's decision to omit an
economic growth target for 2020 renewed concerns that the
fallout from the coronavirus pandemic will continue to depress
fuel demand in the world's second-largest oil
user. O/R
EMERGING MARKETS
For the top emerging markets news, double click on STOCKS
For the latest news on African stocks, click on .J
SOUTH AFRICA MARKETS
South Africa's rand rallied on Thursday after the country's
central bank cut its main lending rate by 50 basis points,
while stocks fell on concerns over the long-term impact of the
new coronavirus and simmering U.S.-China tensions. CURRENCIES
Nigeria's currency is expected to come under pressure on the
black market next week, with Uganda's seen firming and Kenya
and Zambia's holding stable. MARKETS
Nigerian stocks rose 1.3% on Thursday to a 10-week high after
a rise in oil prices helped lift shares in the banking and
energy sectors. ECONOMY
Nigeria's economy could shrink as much as 8.9% in 2020 in a
worst-case scenario without stimulus, Finance Minister Zainab
Ahmed said on Thursday, a deeper recession than forecast after
oil prices plunged due to the coronavirus
pandemic. INFLATION
Annual inflation in Nigeria rose for the eighth straight month
in April, lifted by higher food prices, the statistics office
said on Thursday, as measures to curb the spread of the novel
coronavirus hindered economic activities and increased
costs. MARKETS
The Kenyan shilling KES= held steady on Thursday with tight
liquidity in the local money market helping counter dollar
demand from merchandise importers, traders said. KCB GROUP
Kenya's biggest bank by assets, KCB Group KCB.NR , has
restructured more than 110 billion shillings ($1 billion) of
its loans to customers and up to a quarter of its book could
be affected by mid-June, its chief executive told
Reuters. TELECOMS
The Ethiopian government will sell a 40 percent stake in Ethio
Telecom, a monopoly operator, as part of the country's plans
for opening one of the world's last major closed telecoms
markets, State Minister of Finance Eyob Tekalign Tolina told
Reuters. TOURISM
Seychelles may admit Israelis as part of an initial reopening
of its tourism industry, hit hard by the archipelago's
coronavirus precautions, officials said on
Thursday. ECONOMY
Rwanda's economic growth is expected to slow this year as the
COVID-19 pandemic hits tourism, transport and hospitality, the
finance minister said on Thursday. ELECTRICITY
Zambia's state-owned electricity company Zesco Ltd has signed
contracts worth $548 million with Power China to develop three
solar power plants that will add 600 megawatts (MW) to the
national grid, the company said in a statement. the latest precious metals report click on GOL/
For the latest base metals report click on MET/L
For the latest crude oil report click on O/L