April 11 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.
GLOBAL MARKETS
Global stocks slumped and the dollar sank further on Friday, while a manic bond selloff took hold in a brutal end to the week of tit-for-tat worldwide tariffs that have fed fears of a deep recession and shaken investor confidence in U.S. assets.
WORLD OIL PRICES
Oil prices fell on Friday and were set to drop for a second week on concerns prolonged trade war between the United States and China, the world’s largest economies, will crush crude consumption as their dispute curtails economic growth.
AFRICA MARKETS
The Nigerian and Ghanaian currencies are expected to be broadly stable in the next week to Thursday thanks to central bank support, while the Ugandan and Zambian currencies could fall, traders said.
SOUTH AFRICA MARKETS
South Africa’s rand stumbled on Thursday on global market jitters while stocks jumped, as investors digested U.S. President Donald Trump’s announcement of an immediate 90-day tariff pause for many countries.
KENYA MARKETS
Kenya’s shilling gained ground against the dollar on Thursday, after U.S. President Donald Trump’s unexpected decision to temporarily suspend most of his recently imposed tariffs, traders said.
SUDAN GENOCIDE
Sudan told the International Court of Justice on Thursday that the United Arab Emirates was violating the Genocide Convention by supporting paramilitary forces in Darfur, but the UAE argued the case should be thrown out as the court lacked jurisdiction.
US AID
President Donald Trump’s administration wants the U.N. World Food Programme to modify operations backed by the U.S. in six countries, a State Department spokesperson said on Wednesday, after Washington terminated and then reinstated the assistance.
TANZANIA POLITICS
Tanzanian opposition party leader Tundu Lissu was on Thursday charged with treason, a capital offence, for comments he made last week that prosecutors said called on the public to launch a rebellion and disrupt an election due this year.
((Compiled by Nairobi Newsroom))
