African Markets - Factors to watch on March 5

  • Reuters
  • Stock Market News
African Markets - Factors to watch on March 5
Credit: © Reuters.

NAIROBI, March 5 - 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 skidded to one-month lows on Friday as rising U.S. Treasury yields again rattled equity investors while hoisting the dollar to a three-month high, which in turn dragged the Japanese yen. MKTS/GLOB

WORLD OIL PRICES

Oil prices rose on Friday, extending gains from the previous session, after OPEC and its allies agreed not to increase supply in April as they await a more substantial recovery in demand amid the coronavirus pandemic. 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 slightly on Thursday, ahead of a speech by U.S. Federal Reserve Chairman Jerome Powell that may determine the trend for global bond markets and currencies. LOANS

Nigeria's central bank said on Thursday it has extended a regulatory forbearance on restructured loan facilities impacted by the COVID-19 pandemic. BANKS

When Lagos imposed a lockdown last year, Nigerian civil servant Ruth Oladimeji saw a way to earn extra money. With people unable to visit banks due to the coronavirus pandemic, she became an agent providing local banking services. MARKETS

The Kenyan shilling KES= held steady on Thursday as market participants assessed the prospects of economic recovery from the coronavirus crisis. BANKS

Kenya's Stanbic Holdings SBIC.NR posted a 19% drop in its full-year pretax profit, as its interest income dropped and credit impairment costs rose. LOANS

The African Import and Export Bank (Afreximbank) has agreed to help Zimbabwe raise funding to refinance $1.4 billion in loans to the pan-African lender, a copy of the agreement seen by Reuters showed on Thursday. MANUFACTURING

Zimbabwean manufacturers expect to ramp up production to 61% of capacity this year, the highest level in a decade, on expected stability in the foreign exchange market and falling inflation, the main industrial body said on Thursday. BANKS

Tanzania's central bank said on Thursday it had transferred all assets and liabilities of Dar es Salaam-based China Commercial Bank Limited to another lender after it was placed under administration in November. IMF TALKS

The International Monetary Fund (IMF) said on Thursday that headway had been made in three weeks of talks over a programme for Zambia and discussions would continue, though a number of challenges remained. MINING

A gold rush drawing thousands to a village in Congo's South Kivu province has driven authorities to ban mining there until more oversight is established, the provincial mines minister said on Thursday. PROTESTS One person died in a second day of violent protests in Senegal on Thursday, the government said, as supporters of the main opposition leader, Ousmane Sonko, clashed with riot police over a rape accusation that Sonko denies. the latest precious metals report click on GOL/

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