African Markets – Factors to watch on May 9

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A street money changer counts South African Rands in Harare, Zimbabwe, May 5, 2016. REUTERS/Philimon Bulawayo
EVENTS:
 SENEGAL - The International Monetary Fund launches its
 latest report on the outlook for African economies.
 
 GLOBAL MARKETS
 Asian stock markets were mixed on Tuesday following a flat
 close on Wall Street, as investors searched for the next
 catalyst following France's presidential election, while oil
 inched higher on expectations OPEC supply cuts will be
 extended.
            
 
 WORLD OIL PRICES
 Oil prices gave up earlier gains on Tuesday, as concerns
 over slowing demand and a relentless rise in U.S. crude
 output undermined the impact of hopes that OPEC-led
 production cuts could be extended.
      
 
 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 weakened on Monday, giving back some of
 Friday's strong gains as investors favoured developed market
 currencies after the French election result calmed fears the
 country would follow Britain out of the European Union.
             
 
 
 NIGERIA MARKETS
 The Nigerian naira traded at about 400 to the dollar in
 deals for investors on Monday, traders told Reuters, two
 weeks after the central bank allowed investor trade in the
 currency at market-determined rates.
             
 
 NIGERIA DOLLARS
 Nigeria's central bank said it released $81.2 mln for dollar
 requests on Monday in a continuing drive to improve
 liquidity.
                 
 
 KENYA MARKETS
 The Kenyan shilling KES= was steady against the dollar on
 Monday but demand from the energy sector was seen
 outweighing minimal dollar inflows from charities, traders
 said.
             
 
 ZAMBIA WORLD BANK
 The World Bank has approved a $200 million credit for Zambia
 to improve rural roads in six of the southern African
 nation's 10 provinces, the international lender said on
 Monday.
             
 
 ZIMBABWE ELECTRICITY
 South Africa's state-run power utility Eskom could cut
 supplies to neighbouring Zimbabwe by the end of this month
 if Harare fails to clear arrears, Zimbabwe's state-run
 Herald newspaper reported on Monday.

 

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