African Markets - Factors to watch on Feb. 19

  • Reuters
  • Stock Market News
African Markets - Factors to watch on Feb. 19
Credit: © Reuters.

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

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GLOBAL MARKETS Asian stocks were set to pull back on Friday, following a dip on Wall Street as disappointing U.S. jobs data fanned concerns the economic recovery from the coronavirus was losing momentum. MKTS/GLOB

WORLD OIL PRICES Oil prices slid by up to 2% in early trade on Friday, adding to overnight declines, on worries that refineries will take time to resume operations after the big freeze in the U.S. South, creating a gap in demand, while OPEC+ supplies were expected to rise. 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 South Africa's rand firmed on Thursday as the U.S. dollar and Treasury yields eased, with the local unit recovering from losses in two previous sessions. GDP Nigeria exited recession in the fourth quarter despite a full-year contraction in 2020, reflecting the easing of COVID-19 induced restrictions, the statistics office said on Thursday. SECURITY Nigeria's defence minister prompted criticism on Thursday for urging Nigerians not to "be cowards" and to stand up to armed bandits, while security forces embarked on a mission to rescue 42 people kidnapped from a boarding school this week. MARKETS The Kenyan shilling KES= was unchanged on Thursday as dollar inflows from remittances and non-governmental organisations matched importer demand, traders said. CORONAVIRUS Kenya's main airport in Nairobi will find it easy to switch from handling fruit to importing vaccines because it already has extensive cold storage, a leading logistics executive says. POLITICS The Ugandan military on Thursday sentenced seven soldiers to up 90 days in jail after they were convicted of assaulting journalists who were covering an event outside a U.N. office in the capital Kampala. CURRENCIES Kenya's shilling, Zambia's kwacha and Nigeria's naira are expected to weaken against the dollar in the next week to Thursday, traders said. WORLD BANK The World Bank on Thursday named the first African chief executive of its private sector arm, the International Finance Corp, a position key to the bank's efforts to finance vaccines and drive investment in low-carbon energy projects. FASO SECURITY Suspected Islamists killed at least 18 people in attacks in northern Burkina Faso and central Mali on Wednesday and Thursday, government and security sources said. COAST AIRLINES Ivory Coast's national airline Air Cote d'Ivoire reported turnover of 48 billion CFA Francs ($88.7 million) in 2020, down 42% from 83 billion the previous year because of the coronavirus pandemic, an official said on Thursday. EBOLA Democratic Republic of Congo has confirmed two new cases of Ebola, including one far from the centre of the outbreak, provincial Health Minister Eugene Nzanzu Salita said on Thursday. RATES Zimbabwe lifted its main lending rate to 40% from 35% previously on Thursday in a bid to reduce excess liquidity and control speculation in its foreign currency market, the central bank said. the latest precious metals report click on GOL/

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