NAIROBI, June 7 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

EVENTS:

A financial sector trade union representing workers in banks, insurance companies and other businesses has called for a two-day protest strike following the arrest of its secretary-general.

Niger court will debate about a possible lifting of ousted President Mohamed Bazoum’s immunity and his incarceration.

The United States and Kenya are due to hold their sixth in-person negotiating round under the Strategic Trade and Investment Partnership (STIP) in Mombasa, Kenya.

Mauritius’ Finance Minister Renganaden Padayachy is due to present the 2024/25(July-June) budget to parliament.

GLOBAL MARKETS

Asian stocks are set to snap a two-week losing streak on Friday after major central banks kick-started their rate easing cycle this week, adding to expectations the U.S. Federal Reserve could soon follow suit.

[MKTS/GLOB]

WORLD OIL PRICES

Oil prices ticked higher on Friday, as reassurances from OPEC+ members Saudi Arabia and Russia indicating readiness to pause or reverse output agreements, but markets were headed for their third straight weekly losses.

[O/R]

AFRICAN MARKETS

The Nigerian and Kenyan currencies are expected to fall over the next week to Thursday, while Zambia’s and Ghana’s are seen trading relatively stable and Uganda’s could gain, traders said.

SOUTH AFRICA MARKETS

South Africa’s rand was steady on Thursday, as markets awaited the outcome of a meeting between senior African National Congress (ANC) leadership figures on the future of the country’s government.

KENYA MARKETS

Kenya’s shilling gained ground on Thursday, helped by commercial banks selling off their long dollar positions, traders said.

KENYA RATES

Kenya’s central bank held its benchmark lending rate at 13.0% on Wednesday, saying inflation was stable within its near-term target range, and it aimed to keep exchange rate stability.

SUDAN POLITICS

Sudan’s army said on Thursday it would deliver a “harsh response” to an attack a day earlier on a village by the Sudanese paramilitary Rapid Support Forces that pro-democracy activists said killed more than 100 people.

CLIMATE CHANGE AFRICA

A group of 10 West African countries has weighed into a debate over whether companies around the world should be allowed to use carbon offsets to cut emissions, arguing they are critical to attracting financing for climate and conservation efforts.

NIGERIA FIDELITY BANK

Nigeria’s Fidelity Bank said on Thursday it would raise up to 127.1 billion naira ($88 million) via a rights issue and a public share offering to comply with a new minimum capital requirement for local lenders introduced by the central bank in March.

((Compiled by Nairobi Newsroom))