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African Markets - Factors to watch on March 11

Published 11/03/2020, 06:02
Updated 11/03/2020, 06:09
© Reuters.  African Markets - Factors to watch on March 11
GLEN
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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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GLOBAL MARKETS

Asian shares and Wall Street futures fell on Wednesday as

growing scepticism about Washington's stimulus package to

fight the coronavirus outbreak knocked the steam out of an

earlier rally. MKTS/GLOB

WORLD OIL PRICES

Oil prices climbed for a second day on Wednesday, lifted by

hopes that U.S. producers will cut output, but gains were

limited compared with Monday's crash after Saudi Arabia and

Russia triggered a price war. 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 firmed on Tuesday, recovering most of

its losses as emerging markets broadly recovered from heavy

selling in the previous session triggered by a dive in oil

prices and fears about the economic impact of the

coronavirus. MARKETS

Nigerian stocks and bonds fell on Tuesday, while the naira

eased, after a sell-off triggered by a slump in global oil

prices. MARKETS

The Kenyan shilling KES= held steady on Tuesday supported by

easing appetite for dollars from commercial banks, traders

said. AIRLINES CRASH

Families who lost loved ones aboard Ethiopian Airlines

Flight 302 visited the crash site on Tuesday to mark the

first anniversary of the tragedy, a day after interim

results of a probe focused on faulty systems on the Boeing

BA.N 737 MAX jet. REPUBLIC OIL

Congo Republic aims to reach a deal with energy traders

Glencore GLEN.L and Trafigura to restructure a $1.7

billion debt before a meeting with the International

Monetary Fund in April, the head of the national oil

company, told Reuters.

REPUBLIC OF CONGO HEALTH

Democratic Republic of Congo confirmed its first case of

coronavirus on Tuesday, bringing the number of countries in

sub-Saharan Africa hit by the epidemic to seven.

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