African Markets - Factors to watch on March 19

  • Reuters
  • Stock Market News
African Markets - Factors to watch on March 19
Credit: © Reuters.

NAIROBI, March 19 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.

- - - - - GLOBAL MARKETS Asian shares held tight ranges on Tuesday ahead of a Federal Reserve policy meeting, but were broadly supported near six-month highs on expectations the central bank might strike a dovish tone, while fresh Brexit worries dogged the pound. MKTS/GLOB

WORLD OIL PRICES Oil prices were near 2019 highs on Tuesday, supported by supply cuts led by producer club OPEC. U.S. sanctions against oil producers Iran and Venezuela are also boosting prices, although traders said the market may be capped by rising U.S. output. 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 on Monday after power utility Eskom said it would carry out more power cuts this week as it struggles with capacity shortages, weighing on investor sentiment.

MARKETS The Kenyan shilling KES= was under pressure against the dollar on Monday amid dollar demand from oil and merchandise importers, traders said.

POLITICS The defeated main opposition candidate in Nigeria's presidential elections filed a legal challenge on Monday to last month's vote.

AIRPLANE Investigators into the Boeing (NYSE: BA ) Co BA.N 737 MAX crash in Ethiopia have found striking similarities in a vital flight angle with an airplane that came down off Indonesia, a source said, piling pressure on the world's biggest planemaker.

AFRICA French President Emmanuel Macron is trying to recast the style of France's engagement in Africa, where it was once a colonial power, hoping that building warmer cultural and personal ties will help boost business, trade and investment.

MINING Tanzania has ordered all mineral-producing regions in the East African nation to set up government-controlled trading centres by the end of June, accelerating efforts to curb illegal exports of gold and other precious minerals.

COAST COCOA Abundant showers in most of Ivory Coast's cocoa regions last week augured well for the April-to-September mid-crop, farmers said on Monday, despite concerns over below-average rainfall in the centre of the country. MINING Russian state-controlled miner Alrosa ALRS.MM will assess the quality of Zimbabwe's diamond reserves over the next six months but would only start mining if it can take a majority stake in such a project, the company's chief executive said on Monday.

CYCLONE The number of people killed in a powerful storm and preceding floods in Mozambique could exceed 1,000, the president said on Monday, putting the potential death toll greatly more than current figures.

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