March 25 (Reuters) &#8211; Beijer Ref AB (publ):
* BEIJER REF AND BITZER EXTEND THEIR PARTNERSHIP
* CONTRACT COVERS MORE THAN 430 BEIJER REF BRANCHES IN OVER 35 MARKETS IN EUROPE, ASIA-PACIFIC AND AFRICA.
* BEIJER REF AND BITZER ARE AMONG LEADERS IN REFRIGERATION AND AIR CONDITIONING INDUSTRY AND CONFIRMS THEIR SUCCESSFUL COLLABORATION ONCE AGAIN AND EXTEND THEIR PARTNERSHIP AGREEMENT FOR ANOTHER THREE YEARS. Source text for Eikon: Further company coverage: (Gdansk Newsroom)
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BRIEF-Beijer Ref And Bitzer Extend Their Partnership

March 25 &#8211; Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com


GOOD MORNING BROKEN CORRELATIONS! (0838 GMT)
European bourses have opened in the red in a session which is already loaded with contradictions, broken correlations and unusual patterns.
First and foremost, it&#8217;s worth noting that while the STOXX 600 is down about 0.2% in early trading, Wall Street futures are still trading in the black, 0.3% for the S&amp;P and 0.5% for the Nasdaq. It&#8217;s worth noting that S&amp;P 500 fell 0.5% ahead of close yesterday.
Second, while PMIs are one of the key indicators watched by equity strategists, it&#8217;s fair to say that yesterday&#8217;s good surprise had little positive effect.
Looking at oil prices, it&#8217;s another weird one with prices edging down despite the Suez Canal being blocked and disrupting part of the oil trade. Rising Covid cases might be weighing?
So quite counter intuitively, the oil and gas sector is the worst performing one, losing 1.3% at the moment.
Also while growth and tech stocks had been tracking U.S. Treasury yield, the correlation seems broken at the moment if you look at the Nasdaq which yesterday fell along borrowing costs.
There&#8217;s no spillover it seems from the overnight fall of Chinese tech shares due to concerns some may have to delist from U.S. markets.
Today in Europe, the tech sector is down 0.2%, which is just a tad lower than the broader market.
What seems to be the market focus today is how Europe deals with the third wave of the pandemic and whether a vaccine war with the UK can be averted.

(Julien Ponthus)
*****










COVID, MISSILES AND TANKER TAILBACKS (0816 GMT)
Plenty to chew over in what&#8217;s shaping up to be a busy session.
First to note is a sharp fall in dual-listed Chinese company shares after the U.S. securities regulator adopted measures that would kick foreign companies off American stock exchanges if they do not comply with U.S. auditing standards.
Another reason for markets to stay in risk-off mode perhaps was North Korea which launched two ballistic missiles into the sea near Japan. All that weighed on stocks earlier in Asia and now European stock futures are a tad softer.
But the session looks set to brighten up as U.S. equity futures point to a higher open for Wall Street.
They might seek some reassurance from the host of central bankers due to speak later in the day, including the ECB&#8217;s Christine Lagarde. The Swiss National Bank also meets and should keep interest rates at -0.75%, where it&#8217;s been for over six years. Central banks meet in South Africa and Mexico too.
Vaccine rollouts and supplies could be high on the agenda at an EU summit later on. The bloc on Wednesday tightened its oversight of coronavirus vaccine exports, giving it greater scope to block shipments to countries with higher inoculation rates such as Britain.
While German Chancellor Angela Merkel has made a U-turn over imposing a full 5-day lockdown over Easter, concerns about the euro area economy continue to pressure the euro, which is languishing near 4-month lows around $1.18.
Those worries also pulled crude prices more than 1% lower despite the oil tanker tailbacks caused by the stranded container ship in the Suez Canal. Key developments that should provide more direction to markets on Thursday: &#8211; ECB President Christine Lagarde, Bundesbank President Jens Weidmann, and Bank of England governor Andre Bailey, participate in a virtual central bank event hosted by BIS. &#8211; Sweden&#8217;s Ingves, Bank of Canada’s Macklem, ECB’s Weidman, ECB&#8217;s Villeroy de Galhau, New York Fed&#8217;s Williams also due to speak. &#8211; U.S. Treasury to auction 7-year bonds; 5-year bonds sold Wednesday with a sold bid (Full Story) &#8211; Italy to launch BTP short-term, a new government bond that will replace CTZ notes &#8211; Final iteration of US Q4 GDP

(Dhara Ranasinghe)
*****


ALONE IN THE RED (0641 GMT)
European futures are currently trading in the red at the same pace as their Wall Street peers are cruising in the black: that&#8217;s about 0.2% give or take.
Tension is building up ahead of the virtual summit at which EU&#8217; leaders will discuss new rules which would allow the bloc vaccine shipments to countries which are not sharing doses they produce.
The threat of a vaccine war adds up to concerns about Europe&#8217;s sluggish vaccination campaign and the new round of lockdowns implemented to keep the third wave of COVID-19 infection under control.
Among other factors weighing on the market today is the selloff in Chinese technology shares due to concerns they could be de-listed from U.S. bourses.
(Julien Ponthus)
*****
(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html
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&nbsp;

LIVE MARKETS-Good morning broken correlations!

March 25 &#8211; Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

COVID, MISSILES AND TANKER TAILBACKS (0816 GMT)
Plenty to chew over in what&#8217;s shaping up to be a busy session.
First to note is a sharp fall in dual-listed Chinese company shares after the U.S. securities regulator adopted measures that would kick foreign companies off American stock exchanges if they do not comply with U.S. auditing standards.
Another reason for markets to stay in risk-off mode perhaps was North Korea which launched two ballistic missiles into the sea near Japan. All that weighed on stocks earlier in Asia and now European stock futures are a tad softer.
But the session looks set to brighten up as U.S. equity futures point to a higher open for Wall Street.
They might seek some reassurance from the host of central bankers due to speak later in the day, including the ECB&#8217;s Christine Lagarde. The Swiss National Bank also meets and should keep interest rates at -0.75%, where it&#8217;s been for over six years. Central banks meet in South Africa and Mexico too.
Vaccine rollouts and supplies could be high on the agenda at an EU summit later on. The bloc on Wednesday tightened its oversight of coronavirus vaccine exports, giving it greater scope to block shipments to countries with higher inoculation rates such as Britain.
While German Chancellor Angela Merkel has made a U-turn over imposing a full 5-day lockdown over Easter, concerns about the euro area economy continue to pressure the euro, which is languishing near 4-month lows around $1.18.
Those worries also pulled crude prices more than 1% lower despite the oil tanker tailbacks caused by the stranded container ship in the Suez Canal. Key developments that should provide more direction to markets on Thursday: &#8211; ECB President Christine Lagarde, Bundesbank President Jens Weidmann, and Bank of England governor Andre Bailey, participate in a virtual central bank event hosted by BIS. &#8211; Sweden&#8217;s Ingves, Bank of Canada’s Macklem, ECB’s Weidman, ECB&#8217;s Villeroy de Galhau, New York Fed&#8217;s Williams also due to speak. &#8211; U.S. Treasury to auction 7-year bonds; 5-year bonds sold Wednesday with a sold bid (Full Story) &#8211; Italy to launch BTP short-term, a new government bond that will replace CTZ notes &#8211; Final iteration of US Q4 GDP

(Dhara Ranasinghe)
*****


ALONE IN THE RED (0641 GMT)
European futures are currently trading in the red at the same pace as their Wall Street peers are cruising in the black: that&#8217;s about 0.2% give or take.
Tension is building up ahead of the virtual summit at which EU&#8217; leaders will discuss new rules which would allow the bloc vaccine shipments to countries which are not sharing doses they produce.
The threat of a vaccine war adds up to concerns about Europe&#8217;s sluggish vaccination campaign and the new round of lockdowns implemented to keep the third wave of COVID-19 infection under control.
Among other factors weighing on the market today is the selloff in Chinese technology shares due to concerns they could be de-listed from U.S. bourses.
(Julien Ponthus)
*****
(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html
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&nbsp;

LIVE MARKETS-Covid, missiles and tanker tailbacks

A look at the day ahead from Dhara Ranasinghe.

Plenty to chew over in what&#8217;s shaping up to be a busy session.
First to note is a sharp fall in dual-listed Chinese company shares after the U.S. securities regulator adopted measures that would kick foreign companies off American stock exchanges if they do not comply with U.S. auditing standards.
Another reason for markets to stay in risk-off mode perhaps was North Korea which launched two ballistic missiles into the sea near Japan. All that weighed on stocks earlier in Asia and now European stock futures are a tad softer.
But the session looks set to brighten up as U.S. equity futures point to a higher open for Wall Street.
They might seek some reassurance from the host of central bankers due to speak later in the day, including the ECB&#8217;s Christine Lagarde. The Swiss National Bank also meets and should keep interest rates at -0.75%, where it&#8217;s been for over six years. Central banks meet in South Africa and Mexico too.
Vaccine rollouts and supplies could be high on the agenda at an EU summit later on. The bloc on Wednesday tightened its oversight of coronavirus vaccine exports, giving it greater scope to block shipments to countries with higher inoculation rates such as Britain.
While German Chancellor Angela Merkel has made a U-turn over imposing a full 5-day lockdown over Easter, concerns about the euro area economy continue to pressure the euro, which is languishing near 4-month lows around $1.18.
Those worries also pulled crude prices more than 1% lower despite the oil tanker tailbacks caused by the stranded container ship in the Suez Canal.
Key developments that should provide more direction to markets on Thursday:
&#8211; ECB President Christine Lagarde, Bundesbank President Jens Weidmann, and Bank of England governor Andre Bailey, participate in a virtual central bank event hosted by BIS.
&#8211; Sweden&#8217;s Ingves, Bank of Canada’s Macklem, ECB’s Weidman, ECB&#8217;s Villeroy de Galhau, New York Fed&#8217;s Williams also due to speak.
&#8211; U.S. Treasury to auction 7-year bonds; 5-year bonds sold Wednesday with a sold bid
&#8211; Italy to launch BTP short-term, a new government bond that will replace CTZ notes
&#8211; Final iteration of US Q4 GDP
(Reporting by Dhara Ranasinghe; Editing by Sujata Rao)
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MORNING BID-Covid, missiles and tanker tailbacks

JOHANNESBURG, March 25 &#8211; The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Thursday.

ECONOMIC EVENTS
Statistics South Africa will publish producer price inflation data for February at 09:30 GMT. The South African Reserve Bank is due to announce its main lending rate decision 1t 13:00 GMT.

COMPANIES
Remgro published its half year results.

SOUTH AFRICAN MARKETS
South Africa&#8217;s rand firmed on Wednesday as data showing consumer price inflation slowed in February did little to change market expectations that the central bank will not cut interest rates any further.

GLOBAL MARKETS
Asian equities bounced between gains and losses on Thursday as a selloff in Chinese technology shares due to concerns they will be de-listed from U.S. bourses and worries about a semiconductor shortage rattled some investors.

WALL STREET
The S&amp;P 500 closed lower on Wednesday as optimism about the economic recovery by Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen was unable to halt a decline in technology shares for a second straight day.

GOLD
Gold prices rose on Thursday as surging COVID-19 cases across Europe fuelled economic growth concerns, although a strong U.S. dollar checked gains in bullion.

EMERGING MARKETS
For the top emerging markets news, double click on
&#8211; &#8211; &#8211; &#8211;
Some of the main stories out in the South African press:

BUSINESS DAY
&#8211; Covid-19 advisors call for return of alcohol restrictions amid third wave risk
&#8211; Zuma will not participate in Thursday’s contempt of court hearing
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South African Markets – Factors to watch on March 25

NAIROBI, March 25 &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. &#8211; &#8211; &#8211; &#8211; &#8211; GLOBAL MARKETS Asian equities bounced between gains and losses on Thursday as a selloff in Chinese technology shares due to concerns they will be de-listed from U.S. bourses and worries about a semiconductor shortage rattled some investors. WORLD OIL PRICES Oil prices jumped about 6% on Wednesday after a ship ran aground in the Suez Canal, and worries that the incident could tie up crude shipments gave prices a boost after a slide over the last week. 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&#8217;s rand firmed on Wednesday as data showing consumer price inflation slowed in February did little to change market expectations that the central bank will not cut interest rates any further. SOUTH AFRICA INFLATION South Africa&#8217;s consumer inflation rate slowed to its lowest in eight months in February, dipping below the central bank&#8217;s target range just a day before the regulator decides on lending rates. NIGERIA OIL Price offers for Nigerian and Angolan crude continued to slip on Wednesday as the European demand outlook was clouded by new lockdown measures while Chinese buying remained muted. KENYA MARKETS The Kenyan shilling KES= was unchanged on Wednesday, with importer dollar demand being matched by supply from tea exports and remittances, traders said. KENYA VIOLENCE Three people died and ten were wounded on Wednesday after a bus they were travelling in hit a suspected improvised explosive device planted in the road in Mandera county in Kenya&#8217;s north along its border with Somalia, a government official said. CONGO ELECTIONS Supporters of two candidates in Congo Republic&#8217;s presidential election said on Wednesday that the poll was marred by vote-rigging and that the courts should annul the result. CAMEROON LGBT RIGHTS Two transgender women facing charges of &#8220;attempted homosexuality&#8221; in Cameroon were denied bail on Wednesday after a judge adjourned their case and sent them back to jail, their lawyer said. MOZAMBIQUE GAS Armed groups on Wednesday attacked the northern Mozambique town closest to gas projects worth some $60 billion, two sources told Reuters, striking ever closer to developments that have already stalled due to security problems. ZIMBABWE COVID-19 Zimbabwe&#8217;s President Emmerson Mnangagwa and some opposition politicians received China&#8217;s Sinovac COVID-19 vaccine in the tourist resort of Victoria Falls on Wednesday as part of efforts to encourage citizens to get inoculated. SOMALIA POLITICS The security minister of a Somali regional administration said on Wednesday he had defected along with hundreds of troops and allied himself to President Mohamed Abdullahi Mohamed, who faces calls by rivals to quit after his term as national leader ended. 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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African Markets – Factors to watch on March 25

SINGAPORE, March 25 (Reuters) &#8211; Low tide overnight has slowed efforts to dislodge a 400-metre long, 224,000-tonne container vessel that has choked traffic in both directions along the Suez Canal and created the world&#8217;s largest shipping jam.
The Ever Given vessel ran aground diagonally across the single-lane stretch of the southern canal on Tuesday morning after losing the ability to steer amid high winds and a dust storm, the Suez Canal Authority (SCA) said in a statement.
It is now blocking transit in both directions through one of the world&#8217;s busiest shipping channels for goods, oil, grain and other products linking Asia and Europe.
Marine services firm GAC issued a note to clients overnight saying efforts to free the vessel using tug boats continued, but that wind conditions and the sheer size of the vessel &#8220;were hindering the operation&#8221;.
Ship-tracking software shows that the Ever Given has made only minor changes to its position over the past 24 hours, despite the deployment of several tugs to drag it to deeper water.
Several dozen vessels, including other large container ships, tankers carrying oil and gas, and bulk vessels hauling grain have backed up at either end of the canal to create one of the worst shipping jams seen for years.
Roughly 30% of the world&#8217;s shipping container volume transits through the 193 km (120 miles) Suez Canal daily, and about 12% of total global trade of all goods.
Shipping experts say that if the blockage is not likely to be cleared within the next 24-48 hours, some shipping firms may be forced to re-route vessels around the southern tip of Africa, which would add roughly a week to the journey.
But the chairman of the Suez Canal Authority told media that despite the blockage some cargo was able to move south and that efforts to dislodge Ever given would continue.
&#8220;Once we get this boat out, then that&#8217;s it, things will go back to normal. God willing, we&#8217;ll be done today,&#8221; Chairman Osama Rabie said.
(Reporting By Gavin Maguire Editing by Robert Birsel)
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Low tide slows work to clear Suez ship blockage; traffic jam builds

Rory McIlroy found himself quickly taking on water Wednesday morning at the World Golf Championships-Dell Technologies Match Play event in Austin, Texas.
The four-time major champion&#8217;s tee shot on the fifth hole sailed wide left at Austin Country Club, bounded off the cart path and bounced over a fence before resting in a nearby swimming pool. He eventually went 3 down after five holes and dropped a 6-and-5 decision to England&#8217;s Ian Poulter.
&#8220;I got 3 up in that match early,&#8221; Poulter said, per the Golf Channel. &#8220;So being in that position against Rory, you kind of don&#8217;t want to let him back in the match because if he gets any kind of flow, he&#8217;s going to be a really tough opponent to shrug off.&#8221;
McIlroy declined to speak with the media after his round.
McIlroy, 31, has plummeted from No. 1 to No. 11 in the official world golf rankings. The Northern Ireland native revealed on Monday that he is working with swing instructor Pete Cowen as he attempts to get his game back on track ahead of the upcoming Masters.
McIlroy is scheduled for a Round 2 meeting with American Lanto Griffin, who dropped a 1-down decision to Australian Cameron Smith in another Group 11 match.
Trailing by two with three holes to play, Smith birdied the 16th hole and benefited from a errant tee shot by Griffin on 17 before winning with a par on 18.
Also on Wednesday, Matt Kuchar made six birdies on the front nine to go 5 up on second-seeded Justin Thomas, then held on for a 3-up victory in Group 2.
&#8220;I&#8217;m not sure that many people have been picking me this week and certainly after the last few weeks, I mean, there&#8217;s no chance you would pick me,&#8221; Kuchar said. &#8220;But big thanks to (instructor) Chris O&#8217;Connell, we have been working hard the last kind of month or two and continue refining being continue tweaking and kind of stayed the course and thankfully things kind of came together the last few days.&#8221;
Top-seeded Dustin Johnson birdied the final hole to close out a 2-up win over Adam Long in Group 1.
Third-seeded Jon Rahm of Spain took the lead over Colombia&#8217;s Sebastian Munoz on the 16th hole and emerged with a 1-up win in Group 3.
Fourth-seeded Collin Morikawa finished level with J.T. Poston, who gained the tie with an 18th-hole birdie in Group 4.
Fifth-seeded Bryson DeChambeau led nearly start to finish in a 2-up win over France&#8217;s Antoine Rozner in Group 5.
Sixth-seeded Xander Schauffele benefited from birdies on Nos. 11, 12 and 16 before picking up a half point for a tie after England&#8217;s Andy Sullivan was unable to sink a short putt on No. 17. Scottie Scheffler posted a 2-up win over Australian Jason Day in the other match in Group 6 play.
Daniel Berger, the 14th seed, showed no ill effects of a recent rib injury while competing in Group 14 play. He recorded five birdies on the front nine en route to posting a 6-and-4 decision over Erik van Rooyen of South Africa.
&#8211;Field Level Media
(c) Copyright Field Level Media. All Rights Reserved. 2021
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Rory McIlroy sends tee shot into pool, loses at WGC Match Play

March 25 (Reuters) &#8211;
For other diaries, please see:

Top Economic Events
Emerging Markets Economic Events
Government Debt Auctions
Political and General News
U.S. Federal Reserve
Today in Washington &#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212; This Diary is filed daily. ** Indicates new events &#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;
THURSDAY, MARCH 25
CAPE TOWN – South Africa Reserve Bank starts its three-day monetary policy committee meeting – (final day). MOSCOW &#8211; Russian central bank Governor Elvira Nabiullina speaks at a conference. (final day) MEXICO CITY &#8211; Central Bank of Mexico releases monetary policy statement. MANILA &#8211; Philippines Central Bank holds monetary policy meeting.
FRIDAY, MARCH 26
BOGOTA &#8211; Bank of Colombia meeting of the board of directors of March &#8211; Monetary Policy Decision. MONDAY, MARCH 29
NAIROBI &#8211; Kenya&#8217;s Central Bank announces its latest lending rate decision – 1330 GMT. KINGSTON &#8211; Bank of Jamaica holds interest rate announcement.

TUESDAY, MARCH 30
** NAIROBI &#8211; Kenya&#8217;s central bank holds an online news conference to give more details on its latest lending rate decision – 0800 GMT. SANTIAGO &#8211; Central Bank of Chile holds monetary policy committee meeting.
WEDNESDAY, MARCH 31
REYKJAVIK – Bank of Iceland releases financial stability report.
MONDAY, APRIL 5
BOGOTA &#8211; Bank of Colombia Minutes of board of directors meeting March 26.
TUESDAY, APRIL 6
PRAGUE &#8211; Czech National Bank releases minutes from the March 24 monetary policy meeting &#8211; 0700 GMT.
SYDNEY &#8211; Reserve Bank of Australia holds interest rate meeting &#8211; 0430 GMT.
WEDNESDAY, APRIL 7
BUDAPEST &#8211; Hungarian Central Bank to publish the minutes of its April 2021 rate-setting meeting &#8211; 1200 GMT.
WARSAW &#8211; National Bank of Poland holds one-day decision making monetary policy meeting.
BANGKOK &#8211; Thailand Central Bank releases quarterly monetary policy report.
THURSDAY, APRIL 8
MEXICO CITY &#8211; Mexico Central Bank issues the minutes of its March monetary policy meeting.
LIMA &#8211; Central Reserve Bank of Peru announces interest rate decision. COLOMBO &#8211; Central Bank of Sri Lanka announces monetary policy report.
FRIDAY, APRIL 9
BANGKOK &#8211; Thai central bank holds an analyst meeting on the economy and monetary policy &#8211; 0300 GMT
SYDNEY &#8211; Reserve Bank of Australia financial stability review &#8211; 0130 GMT.

TUESDAY, APRIL 13 BELGRADE &#8211; National Bank of Serbia holds Executive Board meeting and unveils interest rate decision.
WEDNESDAY, APRIL 14 UGANDA – Bank of Uganda announces rate decision &#8211; 1500 GMT
ZAGREB &#8211; Croatia National Bank holds monetary policy meeting. WINDHOEK &#8211; Central Bank of Namibia holds Monetary Policy Meeting.
THURSDAY, APRIL 15 SEOUL &#8211; Bank of Korea holds monetary policy meeting to announce interest rates. ANKARA – Central Bank of the Republic of Turkey holds monetary policy meeting.
MONDAY, APRIL 19
JERUSALEM &#8211; Bank of Israel announces its interest rate decision. KYIV &#8211; National Bank of Ukraine holds monetary policy meeting.
JAKARTA &#8211; Indonesia&#8217;s Central Bank holds Board of Governors Meeting (To April 20)
TUESDAY, APRIL 20
PRAGUE &#8211; Czech National Bank Governor Jiri Rusnok speaks in an interview on topics including monetary policy and economic prospects. SYDNEY – Reserve Bank of Australia (RBA) will release the minutes of April Monetary Policy Meeting – 0130 GMT.
FRIDAY, APRIL 23 MOSCOW &#8211; Central Bank of Russia holds board of directors monetary policy meeting &#8211; 1030 GMT. MOSCOW &#8211; Central Bank of Russia Governor Elvira Nabiullina gives press conference after interest rate &#8211; 1200 GMT. MONDAY, APRIL 26 BISHKEK &#8211; National Bank of Kyrgyzstan holds Board meeting on Monetary policy rate. NUR-SULTAN &#8211; Kazakhstan Central Bank Announces interest rate decision. &#8211; 0900 GMT. WEDNESDAY, APRIL 28 Tbilisi – National Bank of Georgia holds Monetary Policy Committee Meeting.
THURSDAY, APRIL 29 CAIRO &#8211; Central Bank of Egypt holds monetary policy committee meeting. GABORONE – Bank of Botswana Monetary Policy Committee Meeting – 1000 GMT. LILONGWE – Reserve Bank of Malawi monetary policy committee meeting (To April 30)
FRIDAY, APRIL 30
BAKU &#8211; Azerbaijan&#8217;s central bank to hold a monetary policy meeting, followed by a news conference. BOGOTA &#8211; Bank of Colombia Board Meeting of the Board of Directors, April &#8211; Policy Rate Decision. CHISINAU &#8211; National Bank of Moldova announces interest rate decision.

TUESDAY, MAY 4 SYDNEY – Reserve Bank of Australia (RBA) holds interest rate meeting – 0430 GMT.
WEDNESDAY, MAY 12
BUDAPEST &#8211; National Bank of Hungary publishes minutes of its last rate meeting &#8211; 1200 GMT

TUESDAY, MAY 18 SYDNEY – Reserve Bank of Australia will release the minutes of April monetary policy meeting &#8211; 0130 GMT.
FRIDAY, MAY 21
** SYDNEY &#8211; Reserve Bank of Australia holds Payments System Board Meeting – 0130 GMT.
MONDAY, MAY 24
ACCRA &#8211; Bank of Ghana&#8217;s monetary policy committee holds a press conference to announce its interest rate decision – 1100 GMT.
THURSDAY, MAY 27
** MEXICO CITY &#8211; Mexico central bank issues minutes of monetary policy meeting. &#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;
NOTE: The inclusion of items in this diary does not necessarily mean that Reuters will file a story based on the event. For technical issues, please contact Thomson Reuters Customer Support (TRCS) at https://customers.reuters.com/kccontactus/telephone.aspx
(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html
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&nbsp;

DIARY-Emerging Markets Economic Events to May 27

MOSCOW, March 24 (Reuters) &#8211; Urals crude oil differentials to dated Brent eased in northwest Europe on Wednesday amid weak demand, though a preliminary loading plan for April showed exports of the Russian grade from Baltic ports will drop next month.
* The Urals oil loading plan from Russia’s Primorsk and Ust-Luga Baltic ports has been set at 3.9 million tonnes for April, down from 4.1 million tonnes in March, the preliminary plan seen by Reuters showed on Wednesday.
* Siberian Light and Urals oil loadings from the Black Sea port of Novorossiisk are set to rise slightly in April to 1.63 million tonnes from 1.55 million tonnes in March, the schedule showed.
* Rising worries about fall in demand amid fresh lockdowns in Europe weigh on price estimates of April cargoes, traders said.
PLATTS WINDOW
* Gunvor sold 100,000 tonnes of Urals oil loading from Baltic ports on April 6-10 to Shell at dated Brent minus $2.10 per barrel, some 25 cents per barrel weaker than the recent estimates.
* There were no bids or offers for Urals loading from Novorossiisk, CPC Blend or Azeri BTC in the Platts window on Wednesday. NEWS
* Dozens of ships carrying everything from oil to consumer goods have been delayed by the grounding of a vessel in the Suez Canal, and companies may have to re-route cargoes around Africa if the blockage extends beyond 24 hours, shipping sources said.
* With oil prices making steady gains earlier this year, OPEC and other producers had hoped to ease output cuts, but industry sources say a fresh wave of lockdowns around the world threatens to tear up those plans. (Reporting by Olga Yagova and Gleb Gorodyankin; editing by Jonathan Oatis)
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&nbsp;

Med crude-Urals diffs ease in Baltic despite a drop in April exports

Rory McIlroy found himself quickly taking on water Wednesday morning at the World Golf Championships-Dell Technologies Match Play event in Austin, Texas.
The four-time major champion&#8217;s tee shot on the fifth hole sailed wide left at Austin Country Club, bounded off the cart path and bounced over a fence before resting in a nearby swimming pool. He eventually went 3 down after five holes and dropped a 6 and 5 decision to Ian Poulter of England.
&#8220;I got 3 up in that match early. So being in that position against Rory, you kind of don&#8217;t want to let him back in the match because if he gets any kind of flow, he&#8217;s going to be a really tough opponent to shrug off,&#8221; Poulter said, per the Golf Channel.
McIlroy declined to speak with the media after his round.
McIlroy, 31, has plummeted from No. 1 to No. 11 in the official world golf ranking. The Northern Ireland native revealed on Monday that he is working with swing instructor Pete Cowen as he attempts to get his game back on track ahead of the upcoming Masters.
McIlroy is scheduled for a Round 2 meeting with American Lanto Griffin, who dropped a 1 up decision to Australian Cameron Smith in another Group 11 match.
Trailing by two with three holes to play, Smith birdied the 16th hole and benefited from a errant tee shot by Griffin on 17 before winning with a par on 18.
Also on Wednesday, Xander Schauffele benefited from birdies on Nos. 11, 12 and 16 before picking up a half point for a tie after England&#8217;s Andy Sullivan was unable to sink a short putt on 17. Scottie Scheffler posted a 2 up win over Australian Jason Day in the other match in Group 6 play.
Daniel Berger showed no ill effects of a recent rib injury while competing in Group 14 play. He recorded five birdies on the front nine en route to posting a 6 and 4 decision over Erik Van Rooyen of South Africa.
&#8211;Field Level Media
(c) Copyright Field Level Media. All Rights Reserved. 2021
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Rory McIlroy sends tee shot into pool at WGC Match Play

March 24 (Reuters) &#8211; SECHE ENVIRONNEMENT SA:
* ISSUE OF IMPACT BOND WITH ESG CRITERIA TO ACCELERATE GROWTH IN SUSTAINABLE DEVELOPMENT MARKETS
* SÉCHÉ ENVIRONNEMENT ISSUED A €50 MILLION IMPACT BOND WITH A MATURITY OF EIGHT YEARS
* NOMINAL INTEREST RATE OF THE ISSUE OF 2.90%
* NOMINAL INTEREST RATE CAN BE REVISED DOWNWARD BY 20 BASIS POINTS (0.2%) IF ESG CRITERA EVOLUTION IS FAVOURABLE
* ISSUE INTENDED TO FINANCE ACQUISITION OF SPILL TECH IN SOUTH AFRICA AND INVESTMENTS FOR GROWTH SCHEDULED FOR 2021 Source text for Eikon: Further company coverage: (Gdansk Newsroom)
(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html
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BRIEF-Seche Environnement Issues A 50 Million Euro Impact Bond

LONDON, March 24 (Reuters) &#8211; Northwest European diesel refining margins steadied at about $4.30 a barrel on Wednesday as an unexpected rise in U.S. stocks weighed. * U.S. distillate stockpiles, which include diesel and heating oil, rose by 3.8 million barrels last week, versus expectations in a Reuters poll for a drop of 122,000 barrels, Energy Information Administration data showed. * Dozens of ships carrying everything from oil to consumer goods have been delayed by the grounding of a vessel in the Suez Canal. Companies may have to re-route cargoes around Africa if the blockage extends beyond 24 hours, shipping sources said. Trades Bids Offers Previous Seller Buyer Session 0.1 GO Cargo diffs cif NWE per tonne &lt;GO-CND-N WE&gt; 0.1 GO April Cargo -$5.50 diffs cif Med per tonne &lt;GO-CND-M ED&gt; 50ppm barge diffs fob ARA per tonne &lt;GO50PPM- ED-ARA&gt; Diesel Trades Bids Offers Previous Seller Buyer Session Diesel April Apr Glencore FSTBV, barge -($3-$3 -$3.25-$ RGES, diffs fob .50)12. 3.75 Shell ARA 3KT Per tonne &lt;ULSD10-B D-ARA&gt; Diesel April April cargo +$1.50 +$3 diffs cif NWE Per tonne &lt;ULSD10-A NYD-NWE&gt; Diesel April April cargo +$2.50 +$7 diffs cif Med per tonne &lt;DL-CIFD- MED&gt; Jet fuel Trades Bids Offers Previous Seller Buyer Session Jet fuel April Apr +$17 Shell Gunvor barge +$16.50 diffs fob (3.5KT) FARAG per tonne &lt;JET-BD-A RA&gt; Jet fuel CCM -$1 Unipec Vitol, cargo and CCM BP cif NWE -$2.50 per tonne &lt;JET-CD-N WE&gt; Fuel Oil Trades Bids Offers Previous Sell Buy Session 0.5% barge $451-$45 Trafig Mercur fob ARA per 5 (6KT) ura ia tonne 3.5% barge $355.50- $344-$34 Total Vitol fob ARA per $356.50 6 tonne (14KT) &lt;HFO-ARA&gt; ICE Low Sulphur Gasoil Diesel ARA Barge &lt;LGOc1-LCOc1&gt; Crack(per barrel) Diesel spread &lt;LGOc1-LGOc2&gt; (Reporting by Ahmad Ghaddar Editing by David Goodman ) 
(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html
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Europe Distillates-Diesel cracks steady as U.S. stocks rise sharply

LONDON, March 24 (Reuters) &#8211; Benchmark northwest European gasoline margins fell to around $5.6 a barrel on Wednesday as U.S inventories rose. * U.S. gasoline stocks rose last week by 203,000 barrels to 232.3 million barrels, the Energy Information Administration said on Wednesday.​ * Refinery crude runs rose by 956,000 barrels per day in the week, EIA said. Refinery utilization rates rose by 5.5 percentage points in the week, bringing overall utilization to 81.6% of capacity. * Dozens of ships carrying everything from oil to consumer goods have been delayed by the grounding of a vessel in the Suez Canal, and companies may have to re-route cargoes around Africa if the blockage extends beyond 24 hours, shipping sources said. * Kpler said more than 20 oil tankers carrying crude and refined products were affected by the disruptions. Gasoline (in tonnes) Trades Bids Offers Prev. Sellers Buyers (vol.) Trades Ebob $603 Vitol Litasco Barges MOC Platts E5 (fob ARA) &lt;EUROBOB -ARA&gt; Ebob Barges E10 Platts(f ob ARA) Ebob WINTER:$5 $552-$56 Litasco GST, Barges 57.75 &#8211; 7 , Gunvor, Argus $570.25 Trafigu Finco E5(fob ra, AR) SUMMER: Shell $588.75 &#8211; $603.50 Ebob WINTER $575 Barges $566 &#8211; E10 $582.75 Argus (fob AR) SUMMER $613 &#8211; $613.25 April $610.25 $589.50 swap fob ARA Premium Unleaded (fob ARA) &lt;PU-10PP -ARA&gt; Cargoes Apr $2 Next (fob (Aspro Day MED) pyrgos $-1 ) (Milaz zo) Cargoes (cif NWE) Naphtha (cif NWE) &lt;NAF-C-N WE&gt; Ebob crack (per barrel) $5.661 prev. $6.507 Brent futures Rbob Rbob crack &lt;RBc1-CLc1&gt; (Reporting by Bozorgmehr Sharafedin) 
(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html
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Europe Gasoline/Naphtha-Gasoline cracks fall as U.S inventories rise

LONDON, March 24 (Reuters) &#8211; Price offers for Nigerian and Angolan crude continued to slip on Wednesday as the European demand outlook was clouded by new lockdown measures while Chinese buying remained muted.

* West African sales were nearly as poor as in the depths of the pandemic last spring, traders noted, with dozens of April-loading cargoes unsold and differentials down.
* One trader cited the lack of local refining capacity and reliance on other markets for demand at a time of backwardation and relatively high freight costs.
* Several April-loading Angolan cargoes remained unsold, including a handful belonging to China&#8217;s Unipec.
* Unipec last offered cargoes of Plutonio and Mostarda for dated Brent minus $1 a barrel but it was believed to also be seeking the sale of others outside the Platts window.
* Taiwan&#8217;s CPC closed its buy tender for June-arriving sweet crude and traders said it is likely to have bought Angolan oil.
* Oando was offering a cargo of Nigerian Pennington at dated Brent plus $1.95 a barrel, down nearly 40 cents from earlier in the week, though no buyers emerged.

RELATED NEWS
* With oil prices making steady gains early this year, OPEC and other producers had hoped to ease output cuts, but industry sources say a fresh wave of lockdowns around the world threatens those plans.
* African nations could play a central role in efforts by India to diversify its sources of oil and gas, India&#8217;s oil minister said on Wednesday, as the nation strives to reduce its Middle East energy reliance.
(Reporting by Noah Browning in London Editing by David Goodman ) ))
(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html
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W. Africa Crude-Nigerian and Angolan offers edge down

By Mark Gleeson
CAPE TOWN, March 24 (Reuters) &#8211; Burkina Faso drew 0-0 away to Uganda on Wednesday to book their place at next year’s African Cup of Nations finals as they secured a top-two spot in their qualifying group.
Burkina Faso became the sixth country to qualify, joining holders Algeria, Mali, Senegal and Tunisia, who secured their berths last November, and hosts Cameroon.
Burkina Faso advanced to nine points in Group B, one ahead of Uganda and a further point clear of Malawi.
But with Malawi to host Uganda in their last qualifier on Monday, Burkina are guaranteed a top-two finish, irrespective of the result of their last qualifier at home to bottom-placed South Sudan.
It will be the Burkinabe’s 12th appearance at the finals. Malawi kept their chances alive as they won 1-0 away to South Sudan on Wednesday. The game was played in Khartoum, the capital neighbouring Sudan, because the stadium in Juba is still under construction.
A 4-0 win for Ethiopia over Madagascar moved them top of Group K, although they must still go away to the Ivory Coast in their last qualifier in a tight group.
Amanuel Gebremichael, captain Getaneh Kebede and Abubakar Nassir scored in the first half and Shimeles Bekele tapped home for the fourth late in the game in Bahir Dar.
A 2-0 win for Sudan away at Sao Tome e Principe put them level atop Group C with Ghana and South Africa, who clash in Johannesburg on Thursday.
Mohamed Abdel Rahman and Saifeldin Bakhit scored either side of the interval.
Byiringo Lague’s 67th-minute winner ensured Rwanda moved into second place in Group F as they beat Mozambique 1-0 in Kigali.
The final two rounds of the preliminaries for the next Cup of Nations sees matches played every day from Wednesday through to next Tuesday, finalising the 24-team field for January’s tournament. The top two teams in each group, except that involving Cameroon, qualify. (Editing by Ed Osmond)
(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html
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Soccer-Burkina Faso qualify for African Cup of Nations finals

(A TIMELINE is a sidebar that lists in chronological order events related to a major news story.)
* FACTBOX-AstraZeneca&#8217;s deals to produce and supply its COVID-19 vaccine
* FACTBOX-How AstraZeneca-Oxford developed Britain&#8217;s home-grown COVID-19 vaccine
March 24 (Reuters) &#8211; AstraZeneca is due to publish up-to-date results from its major U.S. COVID-19 vaccine trial, after health officials publicly criticized it for using &#8220;outdated information&#8221; to show how well the immunization worked.
Here&#8217;s a look at the progress of the vaccine development to date since its inception.
JANUARY 2020:
A team involving Oxford Vaccine Group and Jenner Institute starts work on developing a vaccine to prevent COVID-19.
MARCH 2020:
Researchers at the Oxford University begin screening healthy volunteers, aged 18-55, for recruitment in the ChAdOx1 nCoV-19 vaccine trial in the Thames Valley Region.
APRIL 2020:
Human trials begin
AstraZeneca and Oxford join forces for development and potential large scale distribution of the vaccine candidate.
MAY 2020:
AstraZeneca and Oxford start recruiting volunteers for a much larger human trial in the UK.
JULY 2020:
Initial safety data released showed vaccine was safe and produced an immune response.
AUGUST 2020:
Vaccine candidate begins late-stage study in the United States.
SEPTEMBER 2020:
AstraZeneca suspends global trials due to an unexplained illness in a study participant.
AstraZeneca resumes UK trials.
Oxford/AstraZeneca begin submitting data to the UK regulator under a rolling review process.
OCTOBER 2020:
EU launches real-time review of the vaccine.
United States restarts trial, the last one to do so after other regions began resumption much earlier.
NOVEMBER 2020:
AstraZeneca confirms that the UK regulator has started an accelerated review of vaccine.
Interim late-stage data from UK, South Africa trials released:
The vaccine on average prevented 70% of COVID-19 cases in late-stage trials in Britain and Brazil.
The success rate rose to 90% in a group of trial participants who accidentally received a half dose followed by a full dose.
The efficacy was 62% if the full dose was given twice, as it was for most study participants. DECEMBER 2020:
Britain approves shot in first for COVID-19 vaccines in the West. Regulators said that the higher efficacy seen in the half-dose/full-dose cohort was likely a result of a longer gap between doses, rather than the amount of vaccine given.
JANUARY 2021:
India approves Serum&#8217;s vaccine days later in early January.
Europe gives vaccine green light in late January.
FEBRUARY 2021:
The World Health Organisation gives the vaccine a go-ahead. MARCH 2021:
AstraZeneca cut its first-quarter supply forecast to the EU due to export constraints.
Austria halts use of one batch of vaccine following reports of cases of blood clots in Nordic countries.
More than a dozen European countries, including Germany and France, followed suit and halted use of the vaccine.
European regulators and WHO back vaccine&#8217;s safety in mid-March.
In late March, interim data from late-stage trials in U.S., Peru, Chile shows vaccine is 79% effective.
The U.S. National Institute of Allergy and Infectious Diseases said the drugmaker may have included outdated information from the trial, providing an incomplete view of the efficacy data.
(Reporting by Pushkala Aripaka and Yadarisa Shabong in Bengaluru; Editing by Hugh Lawson)
(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html
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