African Markets - Factors to watch on March 9

Kitco Media
By Reuters
Published:
Updated:
Reuters
NAIROBI, March 9 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. - - - - - EVENTS:
*Tanzania's statistics office expected to release consumer inflation data for February.


GLOBAL MARKETS Asian shares wobbled while the dollar was perched near a three-month top on Thursday after a spate of economic data overnight appeared to support Federal Reserve Chairman Jerome Powell's hawkish guidance on further interest rate increases. WORLD OIL PRICES Oil prices were near flat on Thursday, as a larger-than-expected draw in U.S. crude stocks contended with worries that more aggressive U.S. interest rate rises would strain economic growth and therefore dent oil consumption. 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 recovered some ground on Wednesday after hitting its lowest level in almost three years after South African data showed a sharp economic contraction and on hawkish comments from U.S. Federal Reserve Chair Jerome Powell. NIGERIA ELECTION Nigeria's electoral commission has postponed by a week Saturday's elections to choose new governors, saying it needed more time to reconfigure electronic machines that are at the centre of last month's disputed presidential vote. KENYA MARKETS Kenya's shilling eased on Wednesday due to demand for dollars from the energy sector that outpaced inflows from remittances, traders said. SOUTH SUDAN POLITICS South Sudan President Salva Kiir on Wednesday sacked the foreign minister, the president's spokesperson said, less than a week after the dismissal of the ministers of defence and interior and he did not provide an explanation. GHANA ECONOMY International Monetary Fund staff will present Ghana's request for a loan programme to its executive board by the end of the month, the country's President Nana Akufo-Addo said on Wednesday during an annual state-of-the-nation address. BOTSWANA COAL Minergy has approached Botswana's government for a financial bailout to settle debts owed to a mining contractor, which has brought mining operations at its Masama coal mine to a halt, the company's chief executive officer said on Wednesday. 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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