African Markets - Factors to watch on March 2

NAIROBI, March 2 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. - - - - - GLOBAL MARKETS A rally in Asian shares sputtered on Thursday, pressured by a pullback in Chinese stocks and higher U.S. yields amid fears that global central banks would keep raising interest rates to combat sticky inflation. WORLD OIL PRICES Oil prices inched up in early Asian trade on Thursday, extending gains from the previous two sessions on signs of a strong economic rebound in China, the world's top oil importer, which offset worries about a rise in U.S. crude inventories. 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 gained on Wednesday after China's manufacturing activity expanded at its fastest pace since April 2012, fuelling risk-on appetite globally.

KENYA MARKETS

Kenya's shilling lost ground on Wednesday, under pressure from dollar demand from all sectors of the economy particularly energy importers, traders said.

FRANCE AFRICA

Emmanuel Macron landed in Gabon on Wednesday, the first stop of an Africa tour that will also take the French President to Angola, Congo Republic and Democratic Republic of Congo.

SOUTH SUDAN DEBT

The International Monetary Fund said on Wednesday it approved about $114.8 million in emergency funding support for South Sudan, where millions are facing food insecurity.

WEST AFRICA CENTRAL BANK

West Africa's Central Bank, BCEAO, will raise its main lending rate by 25 basis points to 3.00% from March 16 to bring inflation within its target range, it said on Wednesday.

CONGO SECURITY

The United Nations' top official in Democratic Republic of Congo has sought to rally local support for the agency's troubled peacekeeping mission to the country, touring its conflict-hit eastern provinces for the first time in months.

BOTSWANA MINING

Botswana expects output from its mining sector to be flat this year, as the diamond industry loses its sparkle due to a contraction in consumer spending and weaker demand for diamond jewellery, a finance ministry official said on Wednesday.

NIGERIA ELECTION

Nigeria's new president-elect, Bola Tinubu, defended the election he just won as credible on Wednesday but Peter Obi, one of his main opponents, planned to challenge the result in court, according to Obi's running mate.

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off-the-wire

African Markets - Factors to watch on March 2

By Reuters

Reuters

Reuters

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