African Markets - Factors to watch on April 13

  • Reuters
  • Stock Market News
African Markets - Factors to watch on April 13
Credit: © Reuters.

NAIROBI, April 13 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.

GLOBAL MARKETS

Asia share markets were cautious on Tuesday after U.S. markets weakened as investors anticipated the start of corporate earnings seasons and the release of key inflation data to indicate how the global recovery from the pandemic will emerge.

WORLD OIL PRICES

Oil prices edged higher on Tuesday on tensions in the Middle East after the Yemen-based Houthi movement said it fired missiles on Saudi oil sites and on an expected drawdown in crude oil inventory in the United States.

SOUTH AFRICA MARKETS

South Africa's rand recovered from initial losses on Monday on the back of a weaker dollar as traders awaited crucial U.S. inflation and retail sales data in coming days.

KENYA MARKETS

The Kenyan shilling KES= was stable on Monday amid subdued appetite and some dollar inflows from a range of sectors including remittances and coffee, and staying at an eight and a half-month high, traders said. DEMOCRATIC REPUBLIC OF CONGO POLITICS Democratic Republic of Congo's Prime Minister announced a new Cabinet on Monday, completing a government overhaul by President Felix Tshisekedi that strengthens his hold on power.

COAST COCOA

Cocoa arrivals at ports in top grower Ivory Coast reached 1.718 million tonnes by April 11 since the start of the season on Oct. 1, exporters estimated on Monday, up 2.8% from 1.672 million tonnes over the same period last season.

OIL

French major Total said on Monday and its partners have concluded final agreements to launch the Lake Albert resources development project in Uganda and Tanzania.

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