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African Markets - Factors to watch on March 10

Published 10/03/2021, 06:23
Updated 10/03/2021, 06:24
African Markets - Factors to watch on March 10
TTEF
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USD/KES
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USD/UGX
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The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Wednesday.
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EVENTS:

RWANDA- Expecting the latest inflation data from the
statistics office.


GLOBAL MARKETS
Asian stocks bounced back from a two-month low on Wednesday
after bond yields eased following a well-received auction
and as Chinese shares found a footing after recent steep
falls on policy tightening worries. MKTS/GLOB

WORLD OIL PRICES
Oil fell for a third straight session on Wednesday as
investors took profits while looking ahead to U.S.
inventories data due later in the day for pointers on where
prices will head next. 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 recovered from a two-month low on
Tuesday, lifted by investors moving into higher yielding
currencies and slightly better than forecast economic growth
figures. MARKETS
Nigerian stocks dropped to a 10-week low on Tuesday, as
banking shares fell and yield-hungry investors eyed debt for
returns, traders said. BRITAIN CORRUPTION
Britain has agreed to send to Nigeria 4.2 million pounds
($5.84 million) recovered from a former state governor who
was jailed for laundering money in Britain, the two
countries said on Tuesday. MARKETS
The Kenyan shilling KES= was stuck against the dollar on
Tuesday and traders said hard currency inflows from offshore
investors into government securities could help it to
strengthen. ECONOMY
Ghana's President Nana Akufo-Addo on Tuesday predicted a
sharp economic rebound this year after a pandemic-induced
downturn thanks to new mining projects, increased
manufacturing and expanded financial services. TOTAL/ENVIRONMENT
French energy giant Total TOTF.PA on Monday detailed steps
it would take to mitigate the environmental and human impact
from its Tilenga project in Uganda and a multibillion-dollar
pipeline carrying oil from the country to
Tanzania. MARKETS
The Ugandan shilling UGX= traded stable on Tuesday from
the previous session as slow consumer spending continues to
suppress demand for hard currency from importers, traders
said. MINING
China's Tsingshan Holding Group is set to start developing
an iron ore mine and a carbon steel plant in Zimbabwe from
May, the African country's information minister said late on
Tuesday, three years after the firm first announced the
investment deal. CORONAVIRUS/VACCINE
Zimbabwe has authorised the emergency use of four COVID-19
vaccines, including Russia's Sputnik V and China's Sinovac,
the minister of information said on Tuesday. 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

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