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African Markets - Factors to watch on May 5

Published 05/05/2021, 06:02
Updated 05/05/2021, 06:06
© Reuters
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NAIROBI, May 5 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

GLOBAL MARKETS
Asian shares were trying to avoid a fourth straight session of falls on Wednesday as U.S. stock futures steadied in the wake of a pullback in large-cap tech darlings. 

WORLD OIL PRICES
Oil prices rose nearly 1% on Wednesday, extending overnight gains, after industry data estimated U.S. crude stockpiles fell much more than expected last week reinforcing bullish views on fuel demand in the world's largest economy. 

SOUTH AFRICA MARKETS
The South African rand weakened against a dominant dollar on Tuesday, erasing the previous day's gains as investors awaited upcoming data and policy speeches.

MARKETS
The Kenyan shilling (KES) was slightly firmer on Tuesday as export and remittance inflows outstripped importer demand for dollars, traders said.

LENDING RATES
Nigerian lawmakers on Tuesday urged the central bank to standardise commercial lending rates to support small businesses and get credit flowing to the real economy in Africa's most populous nation.

VACCINES
When Edith Serem received her COVID-19 vaccination last month at a hospital in Nairobi where she works as a doctor, nurses jokingly warned she might start speaking in a foreign language.

ELECTION
The European Union has scrapped plans to send observers to a parliamentary election in Ethiopia next month, saying conditions had not been met on communication systems and the mission's independence.

MTN
MTN Nigeria (MTNN.LG) has issued a 100 billion naira ($263 mln) fixed rate bond in the first quarter of 2021, due in seven years, under a 200 billion naira bond programme to refinance existing debt and support network expansion.

CONFLICT
Conflict in Ethiopia's Tigray region has separated nearly 5,000 children from their parents, Save the Children said on Tuesday. 

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