African Markets - Factors to watch on March 9

  • Reuters
  • Stock Market News
African Markets - Factors to watch on March 9
Credit: © Reuters.

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

- - - - - EVENTS: SENEGAL - Senegalese opposition leader Ousmane Sonko has called for more protests against President Macky Sall.

GLOBAL MARKETS Asian stocks were lower on Tuesday as rising bond yields impacted tech shares and company valuations in China and Korea and investors grappled with their inflation fears as the United States looks set to pass a $1.9 trillion stimulus package. MKTS/GLOB

WORLD OIL PRICES Oil prices rose on Tuesday on expectations of a recovery in the global economy after the U.S. Senate approved a $1.9 trillion stimulus bill and on a likely drawdown in crude oil inventories in the United States, the world's biggest fuel consumer. 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 sunk to a new two-month low on Monday in a broad emerging market sell-off, as a rise in U.S. Treasury yields lifted the dollar and battered riskier assets. MARKETS The Kenyan shilling KES= held steady against the dollar on Monday, mainly due to subdued demand for hard currency in the face of healthy supplies from remittances and horticulture exports, traders said. PROTESTS Senegal opposition leader Ousmane Sonko called on Monday for more protests against President Macky Sall after being indicted and released on bail over a rape charge that has sparked violent unrest across the country. PROTESTS EXPLAINED Clashes between police and thousands of demonstrators protesting at the detention of Senegal's most prominent opposition leader have killed at least five people since last week. COAST POLITICS Ivory Coast's President Alassane Ouattara on Monday named his close confidant and chief of staff Patrick Achi as interim prime minister in place of Hamed Bakayoko, who is absent due health reasons. COAST COCOA Uneven rainfall across Ivory Coast's cocoa regions last week has not compromised a broadly positive outlook for the April-to-September mid-crop, farmers said on Monday. LEADERSHIP PRIZE Niger President Mahamadou Issoufou has won the 2020 Mo Ibrahim prize for African political leadership by fostering economic progress while joining in regional efforts to tackle the Islamist militant threat. GUINEA EXPLOSIONS The death toll from a series of explosions in a military barracks in Equatorial Guinea has risen to 98, the health ministry said on Monday after volunteers searched the rubble for bodies. the latest precious metals report click on GOL/

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