African Markets - Factors to watch on March 8

  • Reuters
  • Stock Market News
African Markets - Factors to watch on March 8
Credit: © Reuters.

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.

- - - - - EVENTS: TANZANIA - Expecting the latest inflation data from the statistics office. SENEGAL - Ousmane Sonko, a prominent opposition leader, is due in court for a hearing regarding a rape charge that sparked violent protests across the country.

GLOBAL MARKETS Share markets turned mixed on Monday as the U.S. Senate passage of a $1.9 trillion stimulus bill augured well for faster global economic growth, but also put fresh pressure on Treasuries and tech stocks with lofty valuations. MKTS/GLOB

WORLD OIL PRICES Brent crude futures surged above $70 a barrel on Monday for the first time since the COVID-19 pandemic began, while U.S. crude touched its highest in more than two years, following reports of attacks on Saudi Arabian facilities. O/R

EMERGING MARKETS For the top emerging markets news, double click on STOCKS For the latest news on African stocks, click on .J

AFRICA VACCINES Nigeria, Kenya and Rwanda started inoculating frontline healthcare workers and vulnerable citizens against COVID-19 on Friday as Africa, the world's poorest continent and home to 1.3 billion people, stepped up its vaccination campaigns. AFRICA MARKETS South Africa's rand was set for a weekly loss of more than 2% against the dollar on Friday, as higher bond-market borrowing costs and a rising dollar sapped risk appetite. MARKETS Nigeria will offer a naira incentive to import U.S. dollars through certain licensed channels, the central bank said, in a push to shore up the country's dollar supply. RATING The S&P ratings agency downgraded Kenya's rating to B from B+, and revised the outlook to stable from negative. MARKETS The Kenyan shilling KES= was stable against the dollar on Friday, mainly due to balanced supply and demand counters, traders said. STANBIC Kenyan lender Stanbic Holdings SBIC.NR said on Friday that the bulk of customers who had stopped repaying their loans due to the COVID-19 pandemic have resumed payments. PROTESTS Senegalese police clashed with protesters in several neighbourhoods of the capital Dakar on Friday, including in front of a courthouse where an opposition leader made his first appearance since his arrest on a rape charge. GUINEA EXPLOSIONS A series of large explosions at a military base that killed at least 15 people in Equatorial Guinea on Sunday were the result of negligence related to the use of dynamite, President Teodoro Obiang Nguema said. AIRLINES VACCINES

Ethiopian Airlines is set to take a lead role in ferrying COVID-19 vaccines around the world and expects demand for the service to last for up to three years, its head of cargo services said on Sunday. the latest precious metals report click on GOL/

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For the latest crude oil report click on O/L

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