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African Markets - Factors to watch on March 30

Stock MarketsMar 30, 2021 07:00
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NAIROBI, March 30 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.

EVENTS:
*KENYA - The central bank's governor holds a virtual news conference, a day after the bank left its benchmark lending rate unchanged at 7.0%.

GLOBAL MARKETS
Asian shares were mixed early Tuesday as global investors shook off worries about a hedge fund default that roiled global banking stocks overnight, while rekindled concerns about inflation pushed bond yields higher.

WORLD OIL PRICES
Oil prices rose on Tuesday as shipping traffic resumed through the Suez Canal after days on hold and focus turned to an OPEC+ meeting this week where the extension of supply curbs may be on the table amid new coronavirus pandemic lockdowns. 

SOUTH AFRICA MARKETS
South Africa's rand firmed on Monday, reversing early losses alongside other emerging market currencies as an improving U.S. economic outlook lifted demand for the dollar.

CURRENCY
Nigeria is keeping control of its naira (NGN=D1) currency despite demands for deeper reforms from the International Monetary Fund and World Bank and complaints from businesses.

MARKETS
Kenya's shilling (KES=) was stable on Monday, with muted importer dollar demand from sectors like energy, traders said.

CENTRAL BANK RATE
Kenya's central bank held its benchmark lending rate (KECBIR=ECI) at 7.0% on Monday, the seventh 'hold' decision in a row, saying that a package of measures unveiled since last year had protected the economy from substantial decline.

EQUITY GROUP RESULTS
Kenya's Equity Group (EQTY.NR) will withstand any potentially negative impact of new restrictions on movement imposed by the government to curb a new wave of COVID-19 infections, its chief executive said on Monday.

SECURITY
An attack on the northern Mozambique town of Palma where dozens were killed and thousands displaced may show the increasing "brazenness" of Islamic State in the country, a U.S. official said on Monday.

COVID-19 VACCINES
Johnson & Johnson (JNJ.N) will supply the African Union (AU) with up to 400 million doses of its COVID-19 vaccine beginning in the third quarter, the drugmaker said on Monday, as the continent grapples with vaccinating 60% of its people.

COAST SECURITY
Dozens of militants from Burkina Faso attacked two military posts in northern Ivory Coast early on Monday, killing three soldiers and wounding seven, the West African nation's army said. 

African Markets - Factors to watch on March 30
 

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