African Markets - Factors to watch on Feb. 21

  • Reuters
  • Stock Market News
African Markets - Factors to watch on Feb. 21
Credit: © Reuters.

NAIROBI, Feb 21 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.

- - - - - EVENTS: KENYA - The central bank to auction 91-day, 182-day and 364-day Treasury bills worth a total 24 billion shillings.

GLOBAL MARKETS Asian shares pulled ahead to fresh 4-1/2-month highs on Thursday after the U.S. Federal Reserve affirmed it would be "patient" on further interest rate rises and as Sino-U.S. trade talks hinted of progress towards a deal in their tariff war. MKTS/GLOB

WORLD OIL PRICES Oil prices hovered close to 2019 highs on Thursday, bolstered by OPEC-led supply cuts and U.S. sanctions on Venezuela and Iran, but were prevented from rising further by slowing growth in the global economy. 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 was largely flat in afternoon dealings on Wednesday, recouping the bulk of losses suffered after finance minister Tito Mboweni presented the annual national budget. PETROLEUM Nigeria is willing to reduce oil output to help secure higher prices, the spokesman for President Muhammadu Buhari said in a statement on Wednesday, after an envoy from Saudi Arabia called on the African nation to adhere to a deal on production cuts. MARKETS The Kenyan shilling KES= was stable against the dollar on Wednesday and was expected to gain, helped by remittance inflows, traders said. GREEN BONDS Kenya set the stage for the country's first green bond with new rules on Wednesday, part of efforts to diversify its capital markets. ECONOMY Tanzania has changed the base year it uses to calculate economic output to 2015, and data from the National Bureau of Statistics showed its economy was 3.8 percent larger in that year. MINING Canadian miner Barrick Gold ABX.TO outlined on Wednesday details of a deal it reached with the government of Tanzania to settle its disputes with Acacia Mining ACAA.L , including a $300 million payment to resolve tax claims in the country. CURRENCY Zimbabwe scrapped the peg between its quasi-currency bond note and the U.S dollar on Wednesday, its central bank governor said, potentially paving the way for its official currency exchange rate to slide sharply to match its value on the streets. DEBT Debt servicing costs are putting pressure on Zambia's central bank reserves, Bank of Zambia Governor Denny Kalyalya said during a monetary policy committee briefing on Wednesday, after announcing it would keep interest rates unchanged. 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