African Markets - Factors to watch on Feb 01

Kitco Media
By Reuters
Published:
Updated:
Reuters
Feb 1 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. - - - - - EVENTS: Absa monthly PMI for South African manufacturing activity
South Africa January car sales figures


GLOBAL MARKETS


Asia's stockmarkets steadied on Wednesday, with signs of a slowdown in U.S. wages bolstering hopes that the Federal Reserve could hint at an end to interest rate hikes at its meeting later in the day. WORLD OIL PRICES Oil prices rose on Wednesday as signs of slowing inflation in the United States eased fears that the world's largest oil user may face a recession because of further interest rate hikes and a weaker dollar supported some buying interest. 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 The South African rand was little changed on Tuesday as the country continued to struggle with rolling power outages. KENYA MARKETS Kenya's shilling slipped to a new low on Tuesday, as persistent dollar demand from oil importers continued to weigh, traders said. POPE AFRICA
Pope Francis denounced the "poison of greed" driving conflicts in Africa as he began a visit to Democratic Republic of Congo on Tuesday, saying the rich world had to realise that people were more precious than the minerals in the earth beneath them. GHANA DEBT
Ghana has extended the deadline to register for its domestic debt exchange programme for a fourth time to Feb. 7 to allow for new agreed terms to be finalised and finish discussions with other bondholders, the finance ministry said on Tuesday. ETHIOPIA CONFLICT CHINA One Chinese citizen was killed in an attack on Monday in Ethiopia's Oromiya region, the Chinese embassy in the country said, and it warned other citizens in Ethiopia to exercise caution and build up safety awareness. BOTSWANA DIAMONDS Rough diamond sales by Debswana Diamond Company reached record levels in 2022, data showed on Tuesday, as Western buyers shunned Russian stones and Botswana profited from steady global demand for diamond jewellery. ZAMBIA ENERGY Zambia plans to import electricity from Mozambique and the Southern African Power Pool (SAPP) to ease power rationing in Africa's second-largest copper producer. NIGERIA BORROWINGS
Nigeria's lower house of parliament has approved President Muhammadu Buhari's request to borrow an extra $2.2 billion in temporary advances from the country's central bank to help plug gaps in last year's budget, lawmakers said on Tuesday. KENYA INFLATION Kenya's inflation slowed to 9.0% year-on-year in January from 9.1% a month earlier, the statistics office said on Tuesday. 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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