African Markets - Factors to watch on Feb. 27

Kitco Media
By Reuters
Published:
Updated:
Reuters
Feb 27 (Reuters) - The following scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. - - - - - EVENTS: World Bank to launch solar energy strategy for Africa Foreign observers issue preliminary report on Nigerian elections


GLOBAL MARKETS


Asian shares hit two-month lows on Monday as markets were forced to price in ever-loftier peaks for U.S. and European interest rates, slugging bonds globally and underpinning the dollar near multi-week highs. WORLD OIL PRICES Oil prices inched lower in volatile trade on Monday, as a stronger dollar and fears of recession risks offset gains arising from Russia's plans to deepen oil supply cuts. 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 South Africa's rand weakened against a stronger U.S. dollar on Friday, as an international financial crime watchdog added South Africa to its list of countries needing special scrutiny. KENYA MARKETS Kenya's shilling weakened on Friday due to increased importer demand for dollars, especially from the energy sector, traders said. FRANCE AFRICA MACRON
French President Emmanuel Macron will fly to Africa this week in a bid to counter Russian efforts to dislodge France from the continent, after Paris suffered a series of military and political setbacks in its former sphere of influence. NIGERIA ELECTIONS Nigeria's electoral commission began announcing state-by-state results from national elections on Sunday, amid complaints of irregularities, though it is not expected to name a victor in the race to succeed President Muhammadu Buhari for several days. NIGERIA ELECTION VIOLENCE Soldiers were forced to intervene on Sunday after 15 men pretending to be electoral officials stormed a voting collation centre in the Alimosho neighbourhood of Lagos, attacking party agents with knives and sticks, video obtained by Reuters TV showed. SOMALIA DISASTER
Three people died and eight others were injured when a helicopter operated by the African Union peacekeeping mission in Somalia crashed on Saturday in the country's Lower Shabelle region, the mission said in a statement on Sunday. FRANCE BURKINA
France warned its citizens to be careful in Burkina Faso especially on Fridays, when the country frequently sees gatherings that are critical of French policies. RUSSIA AFRICA
The United States is "exerting unprecedented pressure" on African countries, including attempting to disrupt a planned Russia-Africa summit, Russia's deputy foreign minister was quoted as saying late on Saturday. 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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