African Markets - Factors to watch on April 2

  • Reuters
  • Stock Market News
African Markets - Factors to watch on April 2
Credit: © Reuters.

NAIROBI, April 2 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

GLOBAL MARKETS

Asian markets were set to open higher on Friday in a holiday-lightened trading session, riding a surge of strong factory data and falling bold yields that pushed U.S. and European benchmark stock indexes to record highs. 

WORLD OIL PRICES

Oil prices settled up more than $2 Thursday despite news that OPEC+ reached a deal to gradually ease production cuts from May.

SOUTH AFRICA MARKETS

South Africa's rand extended gains against the U.S. dollar on Thursday, as positive manufacturing activity and new vehicle sales data pointed to a recovery in the economy.

CURRENCIES

Kenya's shilling is expected to gain ground against the dollar next week while the Zambian kwacha could weaken, traders said.

MARKETS

Kenya's shilling ( KES= ) was stable on Thursday, and was expected to gain ground, helped muted importer demand, remittance inflows and commercial banks shedding their long dollar positions, traders said.

SUDAN ECONOMY

South Sudan's central bank ordered banks on Thursday to start using one foreign exchange rate in order to reduce market distortions, seeking to stabilise an economy reeling from the impact of the COVID-19 pandemic and years of war.

BREWERY

Anheuser-Busch InBev (ABinBEV), the world's largest beer producer, has opened a new $180 million brewery in Mozambique, the firm said on Thursday.

ECONOMY

Namibia will for the first time receive $271 million from the International Monetary Fund to address the country's deteriorating fiscal position which has been worsened by the COVID-19 pandemic, its finance ministry said on Thursday.

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