off-the-wire

African Markets - Factors to watch on March 29

Kitco Media
By Reuters
Published:
Updated:
Reuters
NAIROBI, March 29 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. - - - - - EVENTS: Senegal's main opposition coalition has called for three days of protests starting Wednesday, a day ahead of a court hearing for one of its leaders in a libel case.


Kenya's central bank is due to announce its latest lending rate decision.


GLOBAL MARKETS Asian shares rose sharply on Wednesday while the dollar was on the defensive as easing concerns over the banking sector revived risk appetite, while Alibaba's 9988.HK stock soared on the internet behemoth's plans to split into six units. WORLD OIL PRICES Crude prices rose for a third session on Wednesday as a halt to some exports from Iraqi Kurdistan raised concerns of tightening supplies and fears of a global banking crisis eased. 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 African mining stocks rose on Tuesday on the back of a weaker dollar and bigger risk appetite from investors, while local currency rand strengthened.


KENYA MARKETS


The Kenyan shilling KES= inched to a new low against the dollar on Tuesday, as oil marketers and other importers sought limited supplies of foreign exchange on the interbank market, traders said.


KENYA RATES


The Central Bank of Kenya (CBK) will raise its key policy interest rate by 25 basis points to 9.00% later on Wednesday in its latest move to brake still-rising inflation, a Reuters poll predicted.


KENYA PROTESTS


Religious leaders and human rights groups in Kenya called for calm on Tuesday as a second week of protests against cost of living increases raised fears of further violence, while President William Ruto said criminals would be held to account.


RWANDA JUSTICE


Paul Rusesabagina, who was portrayed as a hero in the film "Hotel Rwanda" about the 1994 genocide, has arrived in Qatar after being released from prison in Rwanda last week, Rwanda's government spokesperson said on Tuesday.


GHANA DEBT


Ghana's government and international bondholders are pushing forward with formal debt talks after advisors to both sides signed non-disclosure agreements, three sources with direct knowledge of the matter told Reuters.


CONGO REPUBLIC PIRACY


Pirates have attacked and boarded a Danish-owned ship in the Gulf of Guinea and all communications channels with the vessel are down, a spokesperson for shipping company Monjasa said on Tuesday.


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