African Markets - Factors to watch on Jan 31

Kitco Media
By Reuters
Published:
Updated:
Reuters
Jan 31 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. - - - - - EVENTS: South Africa December money supply data South Africa December trade balance data Uganda January inflation data Kenya January inflation data


GLOBAL MARKETS


Asian shares traded cautiously and bonds nursed small losses on Tuesday as investors braced for an eventful week that includes central bank meetings, a slew of earnings reports and key U.S. economic data. WORLD OIL PRICES Oil prices steadied in early Asian trade on Tuesday after falling by more than 2% in the previous session on the threat of further interest rate hikes and continued Russian crude flows. EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on South African stocks, click on SOUTH AFRICA MARKETS South Africa's rand weakened on Monday ahead of a slew of domestic economic data due this week. KENYA MARKETS Kenya's shilling weakened on Monday, due to increased demand for dollars predominantly from oil importers, traders said. BURKINA SECURITY At least 28 people, including soldiers and civilians, were killed in two attacks by armed assailants on Sunday and Monday in Burkina Faso, a regional governor and the army said in separate statements on Monday. POPE AFRICA CONGO Pope Francis flies into Democratic Republic of Congo on Tuesday for a visit that will highlight the human cost of protracted conflict in the vast central African country. LIBERIA POLITICS
Liberia's President George Weah on Monday told parliament he would run for reelection this year after a first term marred with graft allegations and economic downturn. NAMIBIA POACHING The number of endangered rhinos poached in Namibia reached an all-time high last year after 87 animals were killed compared to 45 in 2021, official government data showed on Monday. SOUTH AFRICA SHOOTING Gunmen killed eight people and wounded three others at a birthday party in South Africa at the weekend before fleeing, police said. GHANA RATES Ghana's central bank on Monday raised its main interest rate by another 1 percentage point to 28%, extending a tightening cycle that has so far failed to bring inflation down from multi-decade highs. KENYA RATES
Kenya's central bank held its benchmark lending rate steady at 8.75% on Monday, its monetary policy committee said, saying its last hike in November was still working its way through the economy. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on

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