May 20, 2020 / 5:35 AM / 15 days ago

African Markets - Factors to watch on May 20

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Wednesday.
               - - - - -
 EVENTS:
 *Burundi holds presidential and parliamentary elections, the
 first competitive vote since a civil war broke out there in
 1993.
 *KENYA - KCB Group          to release its first quarter
 2020 earnings results.
 
 GLOBAL MARKETS
 Asian stocks struggled to extend the week's rally on
 Wednesday and gold and bonds firmed as a skeptical press
 report dented some hopes for a COVID-19 vaccine and concerns
 about bumps in the global recovery from the pandemic
 returned.                       
 
 WORLD OIL PRICES
 Oil prices rose on Wednesday amid signs of improving demand
 and a drawdown in U.S. crude inventories but worries over
 the economic fallout from the coronavirus pandemic capped
 gains.                 
 
 EMERGING MARKETS
 For the top emerging markets news, double click on
            
 
 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 SOUTH AFRICA MARKETS
 South Africa's rand extended a rally from the previous
 session on Tuesday, spurred by optimism about prospects for
 a COVID-19 vaccine and the re-opening of economies around
 the world.            
 
 NIGERIA LAFARGE CEMENT 
 Lafarge Africa            will freeze capital expenditure
 this year, Chief Executive Khaled El Dokani said on Tuesday
 after the cement company forecast a drop in second-quarter
 sales as the coronavirus pandemic hits demand.              
 
 
 KENYA MARKETS
 The Kenyan shilling        gained ground on Tuesday, helped
 by tight liquidity and an increase in foreign currency
 reserves held by the central bank, traders said.            
 
 LESOTHO POLITICS
 Lesotho's Prime Minister Thomas Thabane bowed to pressure to
 resign on Tuesday, three months after police named him and
 his current wife as suspects in the murder of his former
 wife in a case that has transfixed the southern African
 nation.                    
 
 BURUNDI POLITICS
 Burundi holds on Wednesday its first competitive
 presidential election since a civil war erupted in 1993,
 despite simmering political violence and the new coronavirus
 pandemic.            
 
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     For the latest crude oil report click on       
   
   
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