Market News

April 7 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.

GLOBAL MARKETS

Major stock indexes plunged in Asia on Monday as White House officials showed no sign of backing away from their sweeping tariff plans, and investors wagered the mounting risk of recession could see U.S. interest rates cut as early as May.

WORLD OIL PRICES

Oil prices slid more than 3% on Monday, deepening last week’s losses, as escalating trade tensions between the United States and China stoked fears of a recession that would reduce demand for crude.

SOUTH AFRICA MARKETS

South African assets fell further on Friday as investors worried about the impact of U.S. President Donald Trump’s sweeping tariffs and the future of South Africa’s coalition government.

KENYA MARKETS

Kenya’s shilling was unchanged against the dollar on Friday, data from the London Stock Exchange Group showed.

ETHIOPIA DEBT

Ethiopia’s official creditors expect to finalise within months a draft debt restructuring that gives the government more time to pay but stops short of an outright haircut, the co-chair of the group told Reuters.

MALI DRONE

Mali accused neighbouring Algeria of shooting down one of its surveillance drones near their shared border in a statement read out by the security minister on national TV on Sunday.