African Markets – Factors to watch on March 30

PUBLISHED: Tue, 30 Mar 2021 04:59:23 GMT
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NAIROBI, March 30 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. – – – – – EVENTS: *KENYA – The central bank’s governor holds a virtual news conference, a day after the bank left its benchmark lending rate unchanged at 7.0%. GLOBAL MARKETS Asian shares were mixed early Tuesday as global investors shook off worries about a hedge fund default that roiled global banking stocks overnight, while rekindled concerns about inflation pushed bond yields higher. WORLD OIL PRICES Oil prices rose on Tuesday as shipping traffic resumed through the Suez Canal after days on hold and focus turned to an OPEC+ meeting this week where the extension of supply curbs may be on the table amid new coronavirus pandemic lockdowns. 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 firmed on Monday, reversing early losses alongside other emerging market currencies as an improving U.S. economic outlook lifted demand for the dollar. NIGERIA CURRENCY Nigeria is keeping control of its naira currency despite demands for deeper reforms from the International Monetary Fund and World Bank and complaints from businesses. KENYA MARKETS Kenya’s shilling was stable on Monday, with muted importer dollar demand from sectors like energy, traders said. KENYA CENTRAL BANK RATE Kenya’s central bank held its benchmark lending rate at 7.0% on Monday, the seventh ‘hold’ decision in a row, saying that a package of measures unveiled since last year had protected the economy from substantial decline. KENYA EQUITY GROUP RESULTS Kenya’s Equity Group will withstand any potentially negative impact of new restrictions on movement imposed by the government to curb a new wave of COVID-19 infections, its chief executive said on Monday. MOZAMBIQUE SECURITY An attack on the northern Mozambique town of Palma where dozens were killed and thousands displaced may show the increasing “brazenness” of Islamic State in the country, a U.S. official said on Monday. AFRICA COVID-19 VACCINES Johnson & Johnson will supply the African Union (AU) with up to 400 million doses of its COVID-19 vaccine beginning in the third quarter, the drugmaker said on Monday, as the continent grapples with vaccinating 60% of its people. IVORY COAST SECURITY Dozens of militants from Burkina Faso attacked two military posts in northern Ivory Coast early on Monday, killing three soldiers and wounding seven, the West African nation’s army said. 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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