African Markets - Factors to watch on March 12
The following company announcements, scheduled economic indicators, debt and cur...
The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. - - - - - EVENTS: *French President Emmanuel Macron visits Djibouti GLOBAL MARKETS The pound jumped and Asian shares rallied on Tuesday after the European Commission agreed to changes in a Brexit deal ahead of a vote in the British parliament on a divorce agreement. WORLD OIL PRICES Oil prices rose on Tuesday, lifted by healthy demand and output cuts led by producer group OPEC. EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on African stocks, click on SOUTH AFRICA MARKETS South Africa's rand firmed on Monday, helped by increasing demand for emerging market currencies amid a slew of disappointing economic data in developed markets and growth warnings from central banks. NIGERIA ELECTION Nigeria's elections need serious reform after being marred by violence, systemic failings and low turnout, the European Union observer mission said on Monday. KENYA MARKETS The Kenyan shilling firmed against the dollar to its strongest level in over three years on Monday as hard currency inflows from diaspora remittances and off-shsore investors continued to subdue weak demand from oil and goods importers, traders said. ETHIOPIA AIRPLANE The United States will mandate that Boeing Co implement design changes by April that have been in the works for months for the 737 MAX 8 fleet after a fatal crash in October but said the plane was airworthy and did not need to be grounded after a second crash on Sunday. IVORY COAST COCOA Below average rainfall in most of Ivory Coast's cocoa growing regions last week has raised concern about the April-to-September mid-crop, farmers said on Monday. UGANDA MARKETS The Ugandan shilling was unchanged on Monday but was inclined on the stronger side amid ebbing appetite for hard currency from both commercial banks and importers. UGANDA COFFEE Uganda's coffee exports dipped slightly in January compared to the same month a year earlier, according to a report by the state-run regulator Uganda Coffee Development Authority (UCDA). UGANDA CONGO/PLAGUE A deadly form of plague has broken out on Uganda's border with Democratic Republic of Congo and several people are thought to have died of the disease, the World Health Organization said on Monday. CONGO WAR CRIMES Former Congolese vice president and militia leader Jean-Pierre Bemba, who was acquitted of war crimes by the International Criminal Court (ICC) last year, is seeking nearly 70 million euros ($75 million dollars) in damages. ALGERIA PROTESTS/FRANCE France's Foreign Minister Jean-Yves Le Drian said on Monday he welcomed Algerian President Abdelaziz Bouteflika's announcement that he would not seek a fifth term, after week of mass demonstrations against his rule. ZAMBIA DEBT Zambia's external debt rose to $10.05 billion at the end of last year from $8.74 billion at the end of 2017, Finance Minister Margaret Mwanakatwe said on Monday. ZIMBABWE ECONOMY Zimbabwe's central bank governor on Monday said the exchange rate for the new transitional currency is unlikely to remain at 2.5 per U.S. dollar by the time tobacco auctions open next week, suggesting the local unit will be devalued further. SUDAN PROTESTS Sudan's parliament voted on Monday to shorten from one year to six months a state of emergency declared by President Omar al-Bashir last month in response to widespread protests. GUINEA BISSAU DRUGS A man arrested in Guinea Bissau last week following the seizure of nearly 800 kg of cocaine from a fish truck is an adviser to the speaker in Niger's parliament, judicial police in Guinea Bissau said on Monday. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on
Our Standards:The Thomson Reuters Trust Principles.