April 23 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.
EVENTS:
Kenya’s President William Ruto makes a state visit to Beijing where he is set to meet his Chinese counterpart Xi Jinping.
GLOBAL MARKETS
Stock markets were enjoying a much-needed relief rally in Asia on Wednesday after President Donald Trump said he had no plans to fire the head of the Federal Reserve, and hinted at lower tariffs for China.
WORLD OIL PRICES
Oil prices rose on Wednesday, extending the prior day’s gains, as investors weighed a fresh round of U.S. sanctions on Iran, a drop in U.S. crude stocks and a softer tone from President Donald Trump toward the Federal Reserve.
SOUTH AFRICA MARKETS
The South African rand jumped on Tuesday as gold prices rose after U.S. President Donald Trump criticised Federal Reserve Chair Jerome Powell, rattling markets and boosting demand for the safe-haven asset.
KENYA MARKETS
Kenya’s shilling was broadly stable against the dollar on Tuesday with foreign exchange supply and demand evenly matched, traders said.
ETHIOPIA AID
The World Food Programme suspended malnutrition treatment for 650,000 malnourished women and children in Ethiopia this week due to severe funding shortages, the U.N. agency said, with millions more at risk of losing access to aid.
GHANA POLITICS
Ghana’s President John Dramani Mahama suspended Chief Justice Gertrude Torkornoo with immediate effect and initiated an investigation in response to three petitions filed against her, a statement said.
((Compiled by Nairobi Newsroom))
