April 5, 2017
NAIROBI, April 5 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.
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Asian stocks rose on Wednesday, helped by a bounce in Chinese shares, though the underlying sentiment was still cautious with investors wary of taking big positions before Presidents Donald Trump and Xi Jinping start their summit on Thursday.
WORLD OIL PRICES
Oil prices climbed to a one-month high on Wednesday on signs of gradual tightening in a market bloated by years of overproduction that has left storage tanks around the world brimming with unsold fuel.
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SOUTH AFRICA MARKETS
South Africa's rand and government bonds recovered on Tuesday after a sharp sell-off following S&P Global Ratings' decision to cut the country's credit rating to sub-investment grade, while stocks rose led by bullion shares.
China has offered Nigeria a $4.5 billion loan for agricultural machinery and infrastructure, a Nigerian state governor said on Tuesday.
NIGERIA FOREIGN EXCHANGE
Nigeria's central bank said on Tuesday it will offer dollar forwards to be delivered within two months to offset a backlog of matured foreign exchange obligations to manufacturers, airlines, fuel importers and agriculture businesses.
The Kenyan shilling was steady on Tuesday but was seen easing against the dollar due to demand from oil importers and slowing foreign exchange inflows from institutional investors into stocks, traders said.
MOZAMBIQUE CURRENCY TRADE
Mozambique will limit banks and foreign exchange bureaus to a maximum spread of 2 percent in all currency trading, the central bank said on Tuesday as it posted new regulations.