May 21, 2020 / 5:53 AM / in 12 days

African Markets - Factors to watch on May 21

    NAIROBI, May 21 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Thursday.
           - - - - -
 GLOBAL MARKETS
 Asian shares stepped back slightly and U.S. stock futures
 fell on Thursday as lingering caution about the long-term
 impact of the coronavirus outbreak offset some of this week's
 enthusiasm over re-opening of economies.            
            
 
 WORLD OIL PRICES
 Oil prices advanced on Thursday as a drawdown of U.S. crude
 inventories and output cuts by major producers helped ease
 concerns about a supply glut, though lingering fears over the
 global economic fallout from the COVID-19 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 edged up on Wednesday as global risk
 appetite improved on hopes of an economic recovery, though
 investors remained cautious a day ahead of a central bank
 rate decision.            
 
 NIGERIA MARKETS
 Nigerian stocks climbed for the third session on Wednesday to
 their highest level in more than two months after broad-based
 gains.            
 
 KENYA MARKETS
 The Kenyan shilling        held steady on Wednesday supported
 by tight liquidity in the local money market that countered
 importer dollar demand, traders said.            
 
 KENYA WORLD BANK LOAN    
 The World Bank has approved a $1 billion loan for Kenya to
 help it close a gaping budget deficit and tackle the economic
 shocks from the coronavirus pandemic, both sides said on
 Wednesday.            
 
 KENYA KCB GROUP EARNINGS
 KCB Group's          first-quarter profit missed expectations
 due to the impact of coronavirus, Kenya's biggest lender said
 on Wednesday, adding that the pandemic was likely to affect
 its performance for the next two quarters.                  
 
 KENYA ELECTRICITY
 Kenya Electricity Generating Co. (KenGen)          , said on
 Wednesday demand for its electricity had dropped by about 8%
 due to restrictions imposed to limit the spread of the new
 coronavirus, with Sunday usage levels seen throughout the
 week.            
 
 KENYA CAR SALES
 The number of new vehicles sold in Kenya slumped by almost
 half last month from the same period a year earlier, due to
 the coronavirus crisis, an industry association said on
 Wednesday.            
 
 TANZANIA CEMENT
 The Tanzanian unit of Kenya's ARM Cement Plc          has
 been sold to China's Huaxin Cement company, its administrator
 PricewaterhouseCoopers and Huaxin said on Wednesday, paving
 way for completion of one of its production
 plant.            
 
 MOZAMBIQUE NATURAL GAS
 French energy major Total           has secured $14.4 billion
 funding for its Mozambique liquefied natural gas project in
 Mozambique, two sources said on Wednesday.            
 
 BURUNDI POLITICS
 Voting in Burundi’s presidential election passed calmly on
 Wednesday despite simmering political violence, the
 coronavirus pandemic and the opposition accusing the
 authorities of fraud.                
 
 DEMOCRATIC REPUBLIC OF CONGO MINING
 The coronavirus pandemic will drive a "survival of the
 fittest" in Democratic Republic of Congo's mining sector and
 trigger an increase in deal-making, the president of the DRC
 Chamber of Mines said on Wednesday.            
 
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