African Markets - Factors to watch on March 4

  • Reuters
  • Stock Market News
African Markets - Factors to watch on March 4
Credit: © Reuters.

NAIROBI, March 4 - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.

- - - - -

GLOBAL MARKETS

Resurgent worries about rising U.S. bond yields hit global shares on Thursday as investors waited to see if Federal Reserve Chair Jerome Powell will address concerns about the risk of a rapid rise in long-term borrowing costs. MKTS/GLOB

WORLD OIL PRICES

Oil prices rose for a second straight session on Thursday, as the possibility that OPEC+ producers might decide against increasing output at a key meeting later in the day lent support, alongside a drop in U.S. fuel inventories. 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 weakened late on Wednesday, reversing some gains made earlier in the session, as data pointed to a slower recovery in factory activity. GOLD

Venezuela sent gold to Mali in 2020 via Russian-owned planes to exchange for euros and U.S. dollars that President Nicolas Maduro's government used to remain afloat despite U.S. sanctions, an opposition representative said on Wednesday. MARKETS

The Nigerian naira dropped to a record closing low of 411 per dollar on the spot market on Wednesday, exchange data showed after the central bank last week acknowledged that the currency was trading weaker. MARKETS

The Kenyan shilling KES= traded stronger on Wednesday supported by hard currency inflows from various sectors like agriculture and Diaspora remittances, traders said. L5N2L13D2

KENYA EQUITY

Kenya's Equity Group Holdings EQTY.NR said on Wednesday it had launched a lending facility worth 75 billion shillings ($685 million) to help small and medium-sized enterprises (SMEs) recover from the economic impact of the COVID-19 pandemic. MINING

The Democratic Republic of Congo produced 85,855 tonnes of cobalt in 2020, up 10% from 2019, the central bank said on Wednesday, with copper production also jumping 11.8% year-on-year. MINING

Diamond and uranium producer Namibia said on Wednesday that locals who own mineral exploration licences will no longer be able to sell out to foreigners, in a move aimed at curtailing speculation in the sector. VIOLENCE

Senegal's main opposition leader, Ousmane Sonko, was arrested on Wednesday after hundreds of his supporters clashed with police in the capital while protesting against a rape accusation he denies. VIOLENCE

One moment, Hadiza was weeping and flinging her arms around her father for the first time since her abduction; the next - gunfire and tear gas filled the air and people ran for cover. VACCINES

Kenya received over a million doses of the AstraZeneca (LON: AZN ) COVID-19 vaccine on Wednesday, while Rwanda said it was the first in Africa to secure shots from Pfizer (NYSE: PFE ), as efforts to inoculate the world's poorest nations accelerated. VARIANTS

Research by South African scientists suggests that antibodies triggered by exposure to the country's dominant coronavirus variant can prevent infection by other variants, the scientists said on Wednesday. GROWTH

Tanzania's economic growth is seen climbing this year in a range of up to 5.3% as a rollout of COVID-19 vaccines invigorates global economic activity, the World Bank said on Wednesday. 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

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100