African Markets - Factors to watch on March 1

NAIROBI, March 1 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. - - - - - GLOBAL MARKETS Asian stocks rebounded from a two-month low on Wednesday as data showing China's manufacturing activity in February expanded at the fastest pace in more than a decade cheered investors, offsetting fears over rising interest rates. WORLD OIL PRICES Oil prices rose for a second day on Wednesday as reports of expanding manufacturing activity in China, the world's biggest crude importer, boosted the outlook for global fuel demand. 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 strengthened on Tuesday after data showed that the country's unemployment rate declined for the fourth consecutive quarter in October-to-December last year.

KENYA MARKETS

Kenya's shilling eased slightly on Tuesday as persistent dollar demand from fuel importers and manufacturers outstripped foreign-currency supply that mostly came from tourism and flower farms, traders said.

NIGERIA ELECTION

Nigeria's ruling party candidate, Bola Tinubu, was declared president-elect of Africa's most populous nation in the early hours of Wednesday after a weekend election that the main opposition parties have disputed.

UGANDA OIL

A French civil court on Tuesday dismissed a fast-track lawsuit brought by campaigners against energy major TotalEnergies TTEF.PA over its oil projects in Uganda and Tanzania, saying the case should be examined in depth in a standard trial.

MOZAMBIQUE GAS

Saipem has agreed to restart a liquefied natural gas (LNG) project in Mozambique for TotalEnergies in July, the chief executive of the Italian energy services group said on Tuesday.

KENYA DEBT

Kenya plans to change the government's debt ceiling from a fixed amount to a proportion of the county's gross domestic product to make debt management more sustainable, President William Ruto's office said on Tuesday.

SUDAN POLITICS

A Sudanese protester was killed on Tuesday after being shot in the chest during a demonstration against military rule, the Central Committee of Sudanese Doctors said in a statement.

KENYA INFLATION

Kenya's inflation rose to 9.2% year-on-year in February from 9.0% a month earlier, the statistics office said on Tuesday, largely driven by food and transport prices.

MALI GOLD

Mali expects industrial gold output to fall by about 3.5% to 63.9 tonnes in 2023 from 66.2 tonnes the previous year, the mines ministry said on Tuesday.

ZAMBIA MINING

Zambia's Mopani Copper Mines has suspended operations at one of its shafts in Kitwe, more than 350 km north of the capital Lusaka, following an accident which led to a worker dying, it 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

499 1232))

Reuters

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.

off-the-wire

African Markets - Factors to watch on March 1

By Reuters

Reuters

Reuters

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

Solid price gains for gold, silver after busy news weekend

Bitcoin remains a ‘speculative vehicle’ and ‘won’t work’ as a reserve: ‘I prefer gold’ – Ray Dalio