African Markets: Factors to watch on April 20

Oil prices rose on Tuesday as a weaker U.S. dollar supported commodities

  
The Egyptian Exchange bell is seen at the stock exchange in Cairo, April 28, 2015. Image used for illustrative purpose

The Egyptian Exchange bell is seen at the stock exchange in Cairo, April 28, 2015. Image used for illustrative purpose

REUTERS/Mohamed Abd El Ghany

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

 GLOBAL MARKETS
Asian shares rose on Tuesday, led by a stronger Chinese opening and shaking off the initial drag from tech-driven Wall Street losses, while the dollar stayed at multiweek lows against other major currencies.                        

 WORLD OIL PRICES
 Oil prices rose on Tuesday as a weaker U.S. dollar supported commodities and on expectations that crude inventories fell in the United States, the world's biggest oil user, though rising coronavirus cases in Asia capped gains.                   

 SOUTH AFRICA MARKETS
 South Africa's rand strengthened on Monday, aided by the U.S.  dollar being pinned near a one-month low and greater global risk appetite.             

 KENYA MARKETS
 The Kenyan shilling weakened slightly on Monday on the back of an uptick in demand for dollars from importers, traders said.            

 NIGERIA BANKS
 Nigeria's biggest lender Access Bank has agreed to buy a majority stake in African Banking Corporation of Botswana for cash, a month after acquiring a South African bank.             

 
 DEMOCRATIC REPUBLIC OF CONGO MINING
 Kibali Goldmines SA, the Congolese joint venture of Barrick  and AngloGold Ashanti, said its 10% shareholder Société Minière de Kilo-Moto (SOKIMO) had filed a
 financial claim against it in a Kinshasa commercial court.            

 CHAD ELECTION

Chad's veteran president, Idriss Deby, has won a sixth term, provisional election results showed on Monday, as the army said it had beaten back a column of insurgents advancing on the capital, N'Djamena.               

 GHANA MINING
 China's Chifeng Jilong Gold Mining on Monday cancelled an agreement to buy the Bibiani gold mine in Ghana, saying it had not received timely information from the seller about the termination of the mining lease.            

 RWANDA TELECOMS
 MTN Rwandacell Plc, majority-owned by South Africa's MTN Group, said on Monday trading in existing shares worth about $365 million would start in Rwanda on May 4 after it obtained approvals from authorities and a minority shareholder. 

((Compiled by Nairobi Newsroom)) ((Email: nairobi.newsroom@thomsonreuters.com; tel: ++254 20 499 1232))

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