African Markets: Factors to watch on April 13

South Africa's rand recovered from initial losses on Monday on the back of a weaker dollar as traders awaited crucial U.S. inflation and retail sales data in coming days

  
Traders works on the floor of the stock exchange in Cairo, May 29, 2014

Traders works on the floor of the stock exchange in Cairo, May 29, 2014

REUTERS/Amr Abdallah Dalsh

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

Asia share markets were cautious on Tuesday after U.S. markets weakened as investors anticipated the start of corporate earnings seasons and the release of key inflation data to indicate how the global recovery from the pandemic will emerge.

WORLD OIL PRICES Oil prices edged higher on Tuesday on tensions in the Middle East after the Yemen-based Houthi movement said it fired missiles on Saudi oil sites and on an expected drawdown in crude oil inventory in the United States. 

SOUTH AFRICA MARKETS South Africa's rand recovered from initial losses on Monday on the back of a weaker dollar as traders awaited crucial U.S. inflation and retail sales data in coming days.  The Kenyan shilling was stable on Monday amid subdued appetite and some dollar inflows from a range of sectors including remittances and coffee, and staying at an eight and a half-month high, traders said.

DEMOCRATIC REPUBLIC OF CONGO POLITICS Democratic Republic of Congo's Prime Minister announced a new Cabinet on Monday, completing a government overhaul by President Felix Tshisekedi that strengthens his hold on power.

IVORY COAST COCOA Cocoa arrivals at ports in top grower Ivory Coast reached 1.718 million tonnes by April 11 since the start of the season on Oct. 1, exporters estimated on Monday, up 2.8% from 1.672 million tonnes over the same period last season. 

UGANDA OIL French major Total said on Monday and its partners have concluded final agreements to launch the Lake Albert resources development project in Uganda and Tanzania. 

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

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