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African Markets - Factors to watch on Feb. 21

Kitco News

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

- - - - - GLOBAL MARKETS Japanese shares led Asian markets higher after a weak start on Wednesday, with Japanese export focused companies attracting investors as the dollar gained against the yen thanks to U.S. Treasury debt yields hovering near highs not seen in four years. WORLD OIL PRICES Oil prices fell on Wednesday, weighed down by a rebound in the U.S. dollar from three-year lows hit last week and an expected rise in U.S. oil production. 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 The South African rand slipped on Tuesday, retreating from last week's three-year high as investors bagged profits ahead of the government's budget speech. KENYA MARKETS The Kenyan shilling was stable against the dollar on Tuesday but was forecast to strengthen supported by remittances from Kenyans abroad, traders said. KENYA IMF The International Monetary Fund said it stopped Kenya's access to a $1.5 billion standby credit facility last June after failing to agree with the government on a reduction of the fiscal deficit. CONGO MINING Democratic Republic of Congo's President Joseph Kabila has not yet signed into law a new mining code, a senior aide said on Tuesday, as international mining companies wage a last-ditch lobbying effort against the measure. CONGO POLITICS Democratic Republic of Congo President Joseph Kabila appointed the head of his political party as interior minister on Tuesday to oversee security in the face of rising militia violence and unrest over delayed elections. EGYPT POLITICS An Egyptian court put former Islamist presidential candidate Abdel Moneim Abol Fotouh on a terrorism list on Tuesday, state news agency MENA reported, following his arrest for alleged contacts with the banned Muslim Brotherhood. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on

Keywords: AFRICA FACTORS/

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