African Markets - Factors to watch on Feb 03

Kitco Media
By Reuters
Published:
Updated:
Reuters
Feb 3 (Reuters) - The following scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. - - - - - EVENTS: S&P Global January PMI survey on South Africa S&P Global January PMI survey on Kenya S&P Global January PMI survey on Ghana S&P to announce ratings decision on Nigeria


GLOBAL MARKETS Asian shares turned lower and the dollar regained some of its footing on Friday, as disappointing earnings from U.S. tech giants undermined sentiment ahead of a key U.S. non-farm payrolls report. WORLD OIL PRICES Oil prices were little changed on Friday, with major benchmarks headed for their second straight week of losses, as the market awaited further signs of fuel demand recovery in China to offset looming slumps in other major economies. 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 held steady on Thursday, after surging a day earlier when the U.S. Federal Reserve signalled it had turned a corner in the fight against inflation. KENYA MARKETS The Kenyan shilling KES= weakened slightly on Thursday, as persistent demand for dollars from importers in the oil market weighed on the local currency, traders said. POPE AFRICA CONGO ABUSE
Around two dozen activists and sexual abuse victims demonstrated in Democratic Republic of Congo's capital on Thursday across the road from a cathedral where Pope Francis was meeting clergy. POPE AFRICA CONGO
Pope Francis on Thursday urged young people in Democratic Republic of Congo to forge a new future without the ethnic rivalry, corruption and distrust that have fuelled so many bloody conflicts in Africa. IVORY COAST COCOA Ivory Coast's cocoa regulator on Thursday started distributing electronic cards to cocoa farmers to help track beans from plantations to their export ports and ensure the growers are paid a guaranteed price for their produce. GHANA MINING South Africa-listed gold miner Gold Fields on Thursday said it is disputing tax payments demanded by the Ghana Revenue Authority (GRA) after an audit and is working with the tax authority to resolve the matter. ZIMBABWE MINING Zimbabwe's central bank on Thursday said it will allow exporters, including miners, to keep 75% of their export earnings in foreign currency after the current cap of 60% drew complaints from the industry. AFRICA INFRASTRUCTURE
Senegal's President Macky Sall said on Thursday that financing is in place to enable construction to begin in earnest on a $1.13 billion deep-water port being developed by Dubai's state-owned port operator DP World. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.