March 7, 2018 / 4:48 AM / 6 months ago

African Markets - Factors to watch on March 7

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Wednesday.
    - - - - -
 EVENTS:
 *Sierra Leone votes president
 *Seychelles releases inflation data for February
 
 
 GLOBAL MARKETS
 Global stocks and the dollar slumped on Wednesday after a
 key advocate for free trade in the White House announced his
 resignation, fanning fears President Donald Trump would go
 ahead with tariffs and risk a trade
 war.                       
 
 WORLD OIL PRICES
 Oil prices fell on Wednesday, pulled down by weaker
 sharemarkets after a key advocate for free trade in the U.S.
 government resigned, triggering concerns that Washington
 would go ahead with import tariffs and risk a trade
 war.                 
 
 EMERGING MARKETS
 For the top emerging markets news, double click on
            
 
 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 
 
 SOUTH AFRICA MARKETS
 South Africa's rand and government bonds firmed on Tuesday
 after data showed the economy expanded more than expected at
 the end of last year, while stocks also ended the session
 higher as food company Tiger Brands TBSJ.J recovered from
 three-month lows.            
 
 
 NIGERIA CURRENCY
 Nigeria's central bank said on Tuesday it had injected $210
 million into the interbank foreign exchange market,
 extending efforts to boost liquidity and alleviate dollar
 shortages.                
 
 
 NIGERIA OIL
 Nigeria's state oil firm said on Tuesday it had recorded
 $437 million of export sales of crude oil and gas in
 December 2017.             
 
 
 NIGERIA SECURITY
 Nigeria's lower house of parliament passed a bill on Tuesday
 aimed at helping authorities to tackle money laundering and
 funding for terrorism.                
 
 
 KENYA MARKETS
 The Kenyan shilling        was unchanged against the dollar
 on Tuesday due to low demand, traders said.            
 
 
 KENYA-KENYA AIRWAYS
 When Sebastian Mikosz took over as CEO of loss-making Kenya
 Airways           last June, he immediately shut its outlet
 in Nairobi's downmarket Accra Road, which served thousands
 of small traders who fly to the Far East to buy cheap goods
 in bulk.            
 
 
 KENYA-SOUTH AFRICA/LISTERIA
 Kenya stopped imports of ready-to-eat meats from South
 Africa on Tuesday, the Kenyan ministry of health said, after
 the world's worst listeria outbreak in the southern African
 nation.            
 
 
 RWANDA ECONOMY
 Good climate conditions are expected to help Rwanda's
 economy grow 6.5 percent this year, up from a projected 5.2
 percent last year, the central bank governor said on
 Tuesday.              
 
 
 UGANDA MARKETS
 The Ugandan shilling        weakened on Tuesday, undermined
 by a rebound in demand for hard currency from manufacturing
 and energy sectors.                
 
 
 USA CHINA/DJIBOUTI
 The top U.S. general for Africa told lawmakers on Tuesday
 that the American military could face "significant"
 consequences should China take a key port in Djibouti, as
 Beijing becomes increasingly muscular in Africa in an effort
 to expand its influence.                    
 
 
 DJIBOUTI PORTS
 Djibouti's Doraleh Container Terminal Management Company has
 signed a deal with Singapore-based Pacific International
 Lines (PIL) to raise by a third the amount of cargo handled
 at the port, the country's Ports and Zones Authority said on
 Tuesday.              
 
 
 GHANA ECONOMY
 Ghana's economy is expected to grow 8.3 percent in 2018,
 higher than the 6.8 percent estimated in the government's
 budget, President Nana Akufo-Addo said on
 Tuesday.                
 
 
 IVORY COAST AVIATION
 Ivory Coast's national airline Air Cote d'Ivoire aims to
 raise $111.5 million in the second half of the year to
 finalise its aircraft acquisition programme, the company's
 chief executive told Reuters on Tuesday.            
 
 
 CONGO MINING
 Democratic Republic of Congo President Joseph Kabila's plan
 to discuss proposed changes to mining royalties with mining
 company representatives on Tuesday was postponed by a day, a
 government minister said.             
 
 
 MAURITIUS INFLATION
 Mauritius' year-on-year inflation rate              rose to
 7 percent in February from 6.2 percent in the previous
 month, the statistics office said on Wednesday.            
 
 
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