May 7 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.
EVENTS:
Mauritius central bank to release its monetary policy decision.
Seychelles statistics office expected to release April inflation data.
GLOBAL MARKETS
U.S. stock futures and Chinese markets rose on Wednesday, as investors cheered news of a meeting between top U.S. and Chinese trade officials as a chance to tone down the tariffs, while China cut interest rates and vowed to support stock markets.
WORLD OIL PRICES
Oil prices rose on Wednesday, holding slightly above recent four-year lows, as investors focused on U.S.-China trade talks and signs of lower U.S. production.
SOUTH AFRICA MARKETS
The South African rand held steady for much of Tuesday’s trading session after the release of a purchasing managers’ index (PMI) survey that showed the country’s private sector showed signs of stabilisation in April.
KENYA MARKETS
The Kenyan shilling was steady on Tuesday, supported by remittances and muted foreign-currency demand, traders said.
SUDAN POLITICS
Explosions were heard in the Sudanese city of Port Sudan early on Wednesday, a Reuters witness reported, adding that the Sudanese army launched anti-aircraft missiles.
NIGERIA CHINA ROAD
Nigeria has approved a $652-million China Exim Bank funding package for construction of a road to move goods from a sea port and petroleum refinery on the edge of its main city Lagos to its southern states, the public works minister said.
CONGO SECURITY
The Democratic Republic of Congo and Rwandan-backed M23 rebels have restarted peace talks in Qatar, sources said on Tuesday, part of a diplomatic effort to end fighting in Congo’s war-ravaged east.
KENYA ECONOMY
Kenya’s economy grew 5.1% year-on-year in the fourth quarter of 2024, compared to 6.1% in the same quarter of the previous year, the country’s statistics office said on Tuesday.
UGANDA POLITICS
A Ugandan opposition activist, who President Yoweri Museveni’s son said he had been holding captive in his basement, appears to have been tortured, the East African nation’s justice minister said.
((Compiled by Nairobi Newsroom))
