African Markets - Factors to watch on Feb 21

Kitco Media
By Reuters
Published:
Updated:
Reuters
NAIROBI, Feb 21 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. - - - - - GLOBAL MARKETS Asian stocks edged lower on Tuesday as the prospect of the U.S. central bank having to stay on its hawkish path weighed on sentiment, with investors looking to the minutes of the latest Federal Reserve meeting for further monetary policy clues. WORLD OIL PRICES The Brent crude benchmark opened slightly lower on Tuesday as the U.S. dollar strengthened and traders waited for cues from the U.S. Federal Reserve meeting minutes, after optimism over demand amid tightening supplies drove prices higher on Monday. 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 weakened against the dollar on Monday, at the start of a week in which fiscal policy will be in focus, with the finance minister due to present this year's budget. KENYA MARKETS Kenya's shilling weakened on Monday to a new all-time low, hurt by increased dollar demand from the energy and manufacturing sectors amid low foreign-currency inflows, traders said. ETHIOPIA TELECOMS Ethiopia is proposing a $150 million license fee for mobile operators including Safaricom's SCOM.NR M-Pesa who want to invest in mobile money services in the country, according to a central bank official and a draft document seen by Reuters on Monday. IVORY COAST COCOA Ivory Coast's Cocoa and Coffee Council (CCC) said on Monday that Ivorian cocoa exporters would still be able to honour their contracts despite a slowdown in port arrivals. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on (Compiled by Nairobi Newsroom)

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