NAIROBI, March 24 - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.
- - - - -
Asian shares hit a two-week low on Wednesday, oil weakened further and the dollar neared four-month highs as coronavirus lockdowns in Europe and potential U.S. tax hikes hit risk appetite, leading to a flight to safety. MKTS/GLOB
WORLD OIL PRICES
Oil prices edged higher on Wednesday as investors looked for bargains following the previous day's plunge, but gains were capped as pandemic lockdowns in Europe and a build in U.S. crude stocks curbed risk appetite and raised oversupply fears. O/R
EMERGING MARKETS For the top emerging markets news, double click on STOCKS For the latest news on African stocks, click on .J
The Kenyan shilling KES= traded stable on Tuesday due to quiet market activity, traders said. L8N2LL1T0
SOUTH AFRICA MARKETS
South Africa's rand weakened in on Tuesday as caution prevailed ahead of a closely watched testimony by top U.S. policymakers, with investors looking out for comments on the rise of bond yields. CENTRAL BANK
Nigeria's central bank held its benchmark lending rate at 11.5% on Tuesday, said Governor Godwin Emefiele, who also denied that the country is adopting a new foreign exchange management policy. BANKS
Absa (JO: ABGJ ) Bank Kenya ABSA.NR on Tuesday reported a 47% drop in 2020 pretax profit reflecting higher impairments due to effects of the pandemic. CONFLICT
Ethiopian Prime Minister Abiy Ahmed confirmed for the first time on Tuesday that troops from neighbouring Eritrea entered the northern Tigray region during the five-month-old conflict, the first such acknowledgement after months of denials. ELECTIONS
Congo Republic President Denis Sassou Nguesso has been re-elected with more than 88% of the vote, official results showed on Tuesday, extending his 36 years leading the Central African oil producer despite a prolonged economic crisis. OIL ASSETS
Switzerland's top court this month partially ruled against a freeze on $900 million belonging to a jailed Angolan businessman, citing insufficient evidence for money laundering alleged by prosecutors. MEDIATION
- Sudan's cabinet has backed an initiative for the United Arab Emirates to mediate in a dispute over Sudan's border with Ethiopia, and over the Grand Ethiopian Renaissance Dam (GERD), the Sudanese information minister said on Tuesday. 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
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.