African Markets – Factors to watch on March 7
NAIROBI, March 7 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.
EVENTS:
MAURITIUS – Statistics office to release February consumer price inflation data any time starting today.
GLOBAL MARKETS
Asian shares rose on Tuesday, diverging from New York markets that slipped on concern about President Donald
Trump’s ability to focus on economic policies.
WORLD OIL PRICES
Oil prices were little changed for a third session on
Tuesday, with investors searching for direction as concern
over rising U.S. shale output offsets production cuts by
OPEC and non-OPEC members.
AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa’s rand strengthened on Monday, firming with fellow emerging market currencies as risk demand recovered globally and data suggested an improving local economic outlook.
SOUTH AFRICA COMPANIES
South Africa’s competition watchdog ruled on Monday that Kawasaki Kisen Kaisha Ltd’s (K-Line) 9107.T, one of Japan’s biggest transport companies, had conspired to rig bids for shipping cars.
NIGERIA CURRENCY
Nigeria’s interbank forex market traded $540,000 in early deals at 375 naira per dollar, near a record low exchange
rate hit last November, Thomson Reuters data showed on Monday.
NIGERIA OIL
Nigerian troops have destroyed 80 oil refineries in the restive Niger Delta region in the last 10 days, a military
spokesman said on Monday, weeks after the vice president said work needs to be offered to people who make a living
from the practice.
NIGERIA INVESTMENT
Nigeria will open up its government-owned airports to
private investment, the minister of aviation said on Monday,
as the capital’s airport prepares to close for repairs after
years of neglect.
MALI SECURITY
Armed groups surrounded Timbuktu on Monday, the defence ministry said, preventing Malian interim authorities from being installed there under a peace pact meant to end years of lawlessness.
ZIMBABWE STRIKE
Zimbabwe’s government on Monday agreed to pay outstanding cash bonuses, bringing an end to a brief sit-in protest by public workers, union leaders and a government minister said.
SOUTH SUDAN CONFLICT
A disaffected South Sudanese army general who quit his position last month announced on Monday that he had formed a new anti-government rebel group, underscoring mounting resistance to the rule of incumbent president Salva Kiir.
TANZANIA ECONOMY
Tanzania’s central bank cut its discount rate to 12 percent from 16 percent to help spur lending and boost economic
growth, the first time it has lowered borrowing costs since 2013.
