African Markets - Factors to watch on March 9

The following company announcements, scheduled economic indicators, debt and currency market

moves and political events may affect African markets on Monday.

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GLOBAL MARKETS

Global share markets tumbled on Monday as panicked investors

fled to bonds to hedge the economic shock of the

coronavirus, and oil plunged more than 20% after Saudi

Arabia slashed its official selling price. MKTS/GLOB

WORLD OIL PRICES

Oil prices plunged around 25% on Monday, heading towards

their biggest daily loss since 1991 after Saudi Arabia

slashed prices and set plans for a big increase in crude

production in April. O/R

EMERGING MARKETS

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STOCKS

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SOUTH AFRICA MARKETS

South Africa's rand weakened against the dollar on Friday

due to waning risk appetite as the surging number of

coronavirus cases left daunting prospects for global growth.

NOTORE

Nigerian fertiliser maker Notore NOTORE.LG plans to seek

shareholder approval this month for a 40 billion naira ($131

mln) capital increase, the company said on

Friday. CORONAVIRUS

Combined with disrupted supply chains and the threat of

coronavirus spreading within Nigeria, this threatens to

torpedo growth in its economy and boost borrowing costs just

as the country plans to return to the Eurobond market.

MARKETS

The Kenyan shilling KES= was stable on Friday as the

market took a breather following three days of intense

activity sparked by a central bank plan to buy dollars from

banks. AIRLINES CRASH

A draft interim report from Ethiopian crash investigators

circulated to U.S. government agencies concludes the March

2019 crash of a Boeing Co BA.N 737 MAX was caused by the

plane's design, two people briefed on the matter said on

Friday. FUEL

Liberian authorities said they had suspended the licences of

fuel importers on Friday to conduct performance reviews

after some of the companies drew too much from reserves in

state-run facilities, leading to gasoline shortages.

POLITICS

More than 50 people in Zambia have been killed in mob

violence in response to a spate of poison spray attacks,

President Edgar Lungu said on Friday, blaming church leaders

for encouraging some of the reprisals.

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