May 25 - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. - - - - - GLOBAL MARKETS Asian shares scaled two-year highs on Thursday while the dollar and U.S. bond yields slipped after the U.S. Federal Reserve signaled a cautious approach to future rate hikes and the reduction of its $4.5 trillion of bond holdings. WORLD OIL PRICES Oil prices rose on Thursday ahead of an OPEC meeting expected to extend production cuts into 2018 in an attempt to drain a global glut that has depressed markets for almost three years. EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on African stocks, click on SOUTH AFRICA MARKETS South Africa's rand rallied to a 4-week high against the
dollar on Wednesday and government bonds gained after annual consumer inflation fell more than expected as food price rises eased. NIGERIA MARKETS Nigeria's central bank plans to sell an undisclosed amount of dollars on Tuesday to settle a backlog of foreign exchange demand for airlines, fuel and raw material imports, traders said. NIGERIA OIL Nigeria's government wants to resolve a labour dispute between Exxon Mobil Corp and unions in the oil-rich Niger Delta region, a minister said on Wednesday. KENYA MARKETS The Kenya shilling remained unchanged against the dollar on Wednesday helped by low dollar demand offset by supply from local producers. KENYA BLASTS Eight Kenyan security officers were killed in two separate roadside bombings in eastern Kenya on Wednesday, senior officials said, and Somali Islamist militants claimed both attacks. KENYA GRAIN A Kenyan government scheme to subsidise staple maize flour has hit problems over shortages, stoking anger over high food prices ahead of a national election in August. SOUTH SUDAN BANKING Kenya's Equity Bank Group has closed more than half of its branches in war-ravaged South Sudan because of a mix of hyperinflation, a battered local currency and an economic slowdown, its chief executive officer said. SOUTH AFRICA INFLATION South Africa's headline consumer inflation fell to within the central bank's target range in April as food price rises slowed, data showed on Wednesday, sending the rand currency to a new 4-week high and boosting hopes for a rate cut later this year.
Frontpage December 17, 2019