African Markets - Factors to watch on Feb.2

  • Reuters
  • Stock Market News
African Markets - Factors to watch on  Feb.2
Credit: © Reuters.

NAIROBI, Feb 2 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.

- - - - - GLOBAL MARKETS Asian stock markets extended gains on Tuesday on increased optimism about stimulus packages and global economic recovery, while retail investors retreated from GameStop (NYSE: GME ) and their new-found interest in silver. MKTS/GLOB

WORLD OIL PRICES Oil prices rose around 1% on Tuesday after major producers showed they were cutting crude output in line with their commitments on restraint, supporting a market thrown out of kilter by weak demand during the coronavirus pandemic. O/R

EMERGING MARKETS For the top emerging markets news, double click on STOCKS For the latest news on African stocks, click on .J

SOUTH AFRICA MARKETS The South African rand firmed on Monday, adding to gains at the end of last week as yield-seeking investors made tentative bets on the volatile currency, while stocks moved up. MARKETS The Nigerian naira fell to a record intra-day low of 415.95 per dollar on the spot market on Monday after easing on the derivatives market, traders said. GAS London-listed Nigerian energy company Seplat SEPL.L SEPLAT.LG raised $260 million in debt to finish fundraising for a gas processing plant in Imo state, it said in a statement on Monday. MARKETS Kenya's shilling KES= was steady on Monday, with remittances and dollar inflows from non-governmental organisations matching demand from importers in the energy sector, traders said. POLITICS Ugandan opposition leader Bobi Wine filed a supreme court challenge on Monday seeking cancellation of the results of a presidential election that handed victory to incumbent Yoweri Museveni, his party's lawyer said. DEBT Ethiopia's request for debt relief in recent days is likely to put other poor countries also eligible for the G20's Debt Service Suspension Initiative (DSSI) under bond market pressure, Morgan Stanley (NYSE: MS ) analysts said on Monday. TELECOMS Ethiopia has extended the deadline for telecom firms to bid for new operating licences by a month to April 5, the sector regulator said on Monday, citing requests from interested companies. CENTRAL BANK RATE Ghana's central bank on Monday kept its main interest rate unchanged at 14.5%, Governor Ernest Addison said in a statement. COAST COCOA Cocoa arrivals at ports in top grower Ivory Coast reached 1.321 million tonnes between Oct. 1 and Jan 31, exporters estimated on Monday, down 6.4% from 1.412 million tonnes over the same period last season. ECONOMY Botswana will increase its value-added tax for the first time in 10 years to boost revenue after the COVID-19 pandemic hurt its key mining and tourism sectors, Finance Minister Thapelo Matsheka said on Monday. MINING A Zambian court on Monday dismissed a motion by miner Vedanta Resources' VDAN.NS seeking to stop a state-appointed provisional liquidator from splitting up its Konkola Copper Mines (KCM) unit and selling the assets. the latest precious metals report click on GOL/

For the latest base metals report click on MET/L

For the latest crude oil report click on O/L

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