African Markets - Factors to watch on March 19

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

NAIROBI, March 19 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

GLOBAL MARKETS

Asian share markets eased on Friday as a spike in global bond yields soured sentiment toward richly priced tech stocks, while a stampede out of crowded positions in crude oil caused the sharpest setback in months.

OIL PRICES

Oil prices edged up on Friday, but were still down more than 8% for the week as a new wave of COVID-19 infections across Europe spurred fresh lockdowns and dampened hopes that an anticipated recovery in fuel demand would come soon.

SOUTH AFRICA MARKETS

The South African rand fell on Thursday as spiking U.S. bond yields boosted the dollar, with the local currency giving away some gains made in the previous session after the Federal Reserve pushed back against speculation over rate hikes.

MARKETS

The Kenyan shilling ( KES= ) was stable on Thursday, and traders forecast it to weaken, due to an uptick in demand for dollars from companies in the energy sector.

CONFLICT

U.S. President Joe Biden is sending Senator Chris Coons to Ethiopia to meet with Prime Minister Abiy Ahmed and convey Biden's "grave concerns" over the humanitarian crisis in the Tigray region, where thousands have died following fighting.

POLITICS

Tanzania's leadership faced calls for a smooth succession on Thursday after President John Magufuli, Africa's most vehement coronavirus sceptic, died following an 18-day absence from public life that drew speculation about his health. 

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