African Markets – Factors to watch on March 6

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(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 Monetary Policy Committee holds monthly meeting. At its last meeting in February, it left its benchmark Central Bank Rate unchanged at 18 percent.

 

MAURITIUS - Expecting inflation data for February. The rate slowed to 6.4 percent in January from 6.5 percent previously.

 

SEYCHELLES – Also expecting inflation data for February later in the day.

 

BOTSWANA - Bank of Botswana is due to auction is 14 day certificate Treasury bills.

 

SOMALIA – Mogadishu welcomes its first international commercial flight by an established carrier in more than two decades. The Turkish airlines flight arrives to the conflict-torn nation from Istanbul.

 

GLOBAL MARKETS – Asian shares and other growth-linked assets fell on Tuesday as slowing economies in China and Europe and tension over Iran dampened sentiment, prompting investors to take profits from recent rallies that had been driven by ample liquidity.

 

WORLD OIL PRICES – Brent crude climbed to nearly $124 on Tuesday as fears of supply disruptions from Iran and unresolved tensions over its nuclear program outweighed concerns about demand and slowing global economic growth.

 

SOUTH AFRICA CURRENCY, BONDS
South Africa’s rand was on track for its second consecutive daily loss against the dollar, weighed down by a gloomy global economic outlook which dented emerging market sentiment.

 

SOUTH AFRICA SHARES
South African stocks edged lower for a third consecutive session, led by resource stocks like Gold Fields on the back of disappointing growth data from top commodity consumer China.

 

NIGERIA MARKETS
The Nigeria’s naira strengthened marginally against the U.S dollar on the interbank market, but weakened at the official window as strong demand for the greenback built up at the bi-weekly foreign exchange auction.

 

NIGERIA SECURITY
The United States urged Nigeria to tackle an Islamist insurgency in the north by bringing jobs and development to the deprived region, and it pledged to support Abuja in the task.

 

KENYA MARKETS
The Kenyan shilling slipped as importers bought dollars ahead of a central bank decision on interest rates that was seen as too close to call, while stocks gained for a 10th straight day.

 

UGANDA MARKETS
The Ugandan shilling shed as much as 4.5 percent against the dollar on Monday prompting the central bank to try and stem the slide after worries about the outlook for monetary policy undermined confidence.

 

GHANA MARKETS
The Ghana cedi currency gave ground against the U.S. dollar as corporate demand for the greenback continued to outstrip supply, traders said.

 

MAURITIUS TBILLS
Mauritius sold 300 million rupees ($10.3 million) worth of 364-day Treasury bills at auction on Monday at a weighted yield of 4.43 percent, down from the 4.46 percent at a previous sale on Feb. 27, the central bank said.

 

ZAMBIA GLENCORE
Zambia has closed a copper treatment plant belonging to Glencore International’s Mopani Copper Mines for pollution violations, the state environmental agency said.

 

Source: Reuters