African Markets – Factors to watch on March 21

0
584
A man trades U.S. dollars for Ghanaian cedis at a currency exchange office in Accra, Ghana, June 15, 2015. REUTERS/Francis Kokoroko

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.
– – – – –
EVENTS:
NIGERIA – The central bank sets lending rates. A Reuters poll showed markets expect the benchmark rate to be unchanged.

GLOBAL MARKETS
Asian shares hit 15-month highs on Tuesday while the dollar and U.S. bond yields were on the back foot on the prospect of a less-hawkish Federal Reserve policy trajectory.

WORLD OIL PRICES
Oil prices rose on Tuesday on expectations that an OPEC-led production cut to prop up the market could be extended, while strong demand would also work to slowly erode a global
fuel supply overhang.

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 rose to its strongest level in 19 months on Monday, extending gains to the fourth straight session as the U.S. Federal Reserve’s less hawkish-than-expected
comments continued to drag the U.S. dollar lower.

NIGERIA MARKETS
Nigeria’s central bank plans to offer $100 million in currency forwards on Monday to be delivered within the next 60 days, traders said.

NIGERIA AMCON
Nigeria’s state-backed ‘bad bank’ AMCON has sold the nationalised Keystone Bank to a consortium of local investors called Sigma Golf Nigeria Limited and Riverbank
Investment Resources, it said on Monday.

KENYA MARKETS
The Kenyan shilling KES= was seen depreciating against the dollar on Monday, owing to a likely surge in demand from oil importers, traders said.

KENYA SYNDICATED LOANS
Kenya borrowed $800 million in a syndicated loan from four international commercial lenders, part of a package totalling $1.55 billion.

TANZANIA WORLD BANK LOAN
The World Bank will lend Tanzania $2.4 billion over the next three years to finance infrastructure projects, the bank’s president Jim Yong Kim said on Monday.

LEAVE A REPLY

Please enter your comment!
Please enter your name here