African Markets - Factors to watch on March 16

  • Reuters
  • Stock Market News
African Markets - Factors to watch on March 16
Credit: © Reuters.

NAIROBI, March 16 (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 stocks rose on Tuesday, tracking an advance by Wall Street's main indexes to record highs, as investors looked to key central bank meetings this week, starting with the U.S. Federal Reserve. 

WORLD OIL PRICES

Oil prices fell on Tuesday, extending declines for a third day, as concerns about rising stockpiles in the United States added to the threat to demand posed by countries including Germany and France halting COVID-19 vaccinations.

SOUTH AFRICA MARKETS

South Africa's rand firmed in afternoon trade on Monday as U.S. Treasury yields backed off recent highs, supporting a risk-on backdrop, with investors awaiting further policy cues from the Federal Reserve's policy meeting this week.

MARKETS

The Kenyan shilling ( KES= ) was stable on Monday, with dollar inflows from agricultural commodity exports and remittances giving it support, traders said.

DIPLOMACY

Sudan's prime minister has written to the African Union, the United Nations, the European Union, and the United States to formally request their mediation on the Nile water being used to fill Grand Ethiopian Renaissance Dam (GERD), the Sudanese foreign ministry said on Monday.

FOREIGN EXCHANGE

The World Trade Organization director-general said on Monday that the WTO was concerned about Nigeria's foreign exchange management and how it had been used to support manufacturing, exports and imports.

EMPLOYMENT

A third of Nigeria's workers were out of a job in the fourth quarter, the statistics office said on Monday, a situation worsened by the novel coronavirus pandemic.

TERRITORIAL DISPUTE

Kenya on Monday did not participate in hearings at the World Court about a maritime boundary dispute with Somalia over contested parts of the Indian Ocean believed to be rich in oil and gas.

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