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African Markets - Factors to watch on March 31

Published 31/03/2020, 06:00
Updated 31/03/2020, 06:06

NAIROBI, March 31 - The following company announcements, scheduled economic indicators, debt
and currency market moves and political events may affect African markets on Tuesday.
- - - - -
EVENTS
KENYA - The statistics office is set to release the consumer
price index data for March any time. The rate of inflation
climbed to 6.37% in February from 5.78% in the previous
month.
UGANDA - The statistics office is scheduled to release March
consumer price index data at about 11 am local time. Annual
headline inflation for February was 3.4%, unchanged from
January.


GLOBAL MARKETS
Asian shares were closing out a calamitous quarter with a
tentative rally on Tuesday as factory data from China held
out the hope of a rebound in activity, even as much of the
rest of the world shut down. MKTS/GLOB

WORLD OIL PRICES
Oil recovered ground on Tuesday after U.S. President Donald
Trump and Russian President Vladimir Putin agreed to talks
to stabilise energy markets, with benchmarks climbing off
18-year lows hit as the coronavirus outbreak cut fuel demand
worldwide. 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 hit an all-time low on Monday after
ratings firm Moody's removed the country's last investment
grade credit rating and downgraded it to "junk" status -
although the selloff did not deepen as some
expected. MARKETS
The Kenyan shilling KES= was stable on Monday due to
commercial banks and some multinational companies offloading
dollars to fund their activities, traders said. MARKETS
Nigerian stocks fell to a new eight-year low on Monday after
President Muhammadu Buhari ordered a lockdown of two of the
country's biggest cities to stop the spread of
coronavirus. AFRICA MINING
The world's largest platinum producers Anglo American
Platinum AMSJ.J , Sibanye-Stillwater SSWJ.J and Impala
Platinum IMPJ.J have declared force majeure on contracts
after a three-week national lockdown forced operations to
close. IVORY COAST COCOA
U.S. customs authorities have asked cocoa traders to report
where and when they encounter child labour in their supply
chains in top grower Ivory Coast, three industry sources
said, following calls from American lawmakers to ban some
imports. OIL
Collapsing oil prices have left African producers facing not
only lost revenue when they most need it to tackle
coronavirus, but also a fall in hard-won market share they
may never regain. 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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