African Markets - Factors to watch on May 10

  • Reuters
  • Stock Market News
African Markets - Factors to watch on May 10

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.

- - - - - EVENTS: *Rwanda releases it latest inflation data

GLOBAL MARKETS Stocks rose on Monday amid speculation that interest rates will remain low for an extended period due to the receding risk of a rapid acceleration in inflation, while oil prices jumped after a cyber attack on a U.S. pipeline operator unnerved markets. MKTS/GLOB

WORLD OIL PRICES Crude prices climbed more than 1% on Monday after a major cyber attack that forced the shutdown of critical fuel supply pipelines in the United States, highlighting the fragility of oil infrastructure. O/R

EMERGING MARKETS For the top emerging markets news, double click on STOCKS For the latest news on African stocks, click on .J

SOUTH AFRICA MARKETS The rand gained strongly on Friday, hitting its highest level against the dollar since January 2020, hours before Moody's was scheduled to publish a review of South Africa's credit rating. SECURITY Armed attackers killed six people at a police station in southern Nigeria, a police spokesman said on Sunday, bringing the total number of officers killed over the weekend to 12 amid escalating violence nationwide. MARKETS The Kenyan shilling KES= was steady on Friday in quiet trade as muted dollar demand from importers continued to underpin the currency, traders said. CONFLICT The head of Ethiopia's Orthodox Church has said that atrocities amounting to genocide are being committed in Tigray, in his first comments on the conflict in the region that broke out in November and has killed thousands. TELECOMS Ethiopia's state-run telecommunications agency Ethio Telecom will launch a mobile money service next week, the company said in a statement released late on Thursday. CORONAVIRUS Tanzania's new president, Samia Suluhu Hassan, on Friday stressed the importance of face masks in fighting COVID-19, ditching one of the most controversial policies of her late coronavirus-sceptic predecessor. FASO SECURITY/UN More than 17,500 people in Burkina Faso have been forcefully displaced from their homes in the past 10 days due to a series of attacks by unidentified armed groups that have killed 45 people, the UN Refugee Agency (UNHCR) said on Friday. LANDSLIDE A landslide at an artisanal gold mine has killed at least 15 people in northeastern Guinea, the government said on Sunday. SECURITY Chad's military claimed victory on Sunday in its weeks-long battle with northern rebels that led to the death of President Idriss Deby on the battlefield. the latest precious metals report click on GOL/

For the latest base metals report click on MET/L

For the latest crude oil report click on O/L

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