CTAs keep buying Treasuries, gold longs face stop-loss risk: BofA
NAIROBI, March 17 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Tuesday.
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GLOBAL MARKETS
Asian shares fell on Tuesday in a topsy-turvy session
following one of Wall Street's biggest one-day routs in
history as headlines about the coronavirus outbreak and its
global economic impact whiplashed investor sentiment.
MKTS/GLOB OIL PRICES
Oil prices rose more than $1 on Tuesday as the recent sharp
falls due to the coronavirus pandemic encouraged bargain
hunters to come forward, although the market remains
volatile as the spread of the infection disrupts economies
and hurts demand. O/R MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand, stocks and government bonds plunged on
Monday, as fears surrounding the coronavirus outbreak roiled
financial markets worldwide and cemented local economists'
expectations for an interest rate cut this week.
NIGERIA CORONAVIRUS PANDEMIC
Nigeria's central bank will create a 50 billion naira ($163
million) fund to combat the impact of the coronavirus
pandemic on Africa's biggest economy and allow banks to give
their customers more time to repay loans, its governor said
on Monday. NIGERIA EUROBOND
Nigeria will postpone all non-critical government spending
and wait for better market conditions for a planned $3.3
billion eurobond offering due to the turmoil caused by the
coronavirus pandemic, the finance minister said on Monday.
KENYA MARKETS
The Kenyan shilling KES= weakened on Monday as market
participants worried about the impact of the spreading new
coronavirus on the economy, traders said. KENYA SAFARICOM
Kenya's biggest telecoms operator Safaricom SCOM.NR said
on Monday it will waive transaction costs on mobile money
transfers under 1,000 shillings ($10) after the government
said cashless payments can curb the spread of the
coronavirus.
AFRICA CORONAVIRUS RESPONSE
More African nations confirmed their first cases of the
coronavirus and shut borders amid fears of the disease's
impact on fragile health systems, as Chinese billionaire and
Alibaba co-founder Jack Ma pledged to donate over 1 million
testing kits to the continent. the latest precious metals report click on GOL/
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