NAIROBI - The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Tuesday.
- - - - -
EVENTS:
* NIGERIA - Nigeria's central bank has been holding its
second monetary policy committee meeting for 2015 on March 23
and 24, with its decision announced on March 24.
* SOUTH AFRICA - The central bank releases business cycle
indicators every month, to gauge the economic outlook.
* SOUTH AFRICA - South Africa's Treasury auctions 2.35
billion rand ($197 million) worth of its 2031, 2037 and 2048
bonds at a weekly sale to primary dealers.
* IVORY COAST - The International Cocoa Organisation and
subsidiary bodies, including the Consultative Board on the
World Cocoa Economy, as well as the Economics and
Administration and Finance Committees, meets in Abidjan.
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GLOBAL MARKETS
An index of Asian shares erased its early gains on Tuesday
after a measure of Chinese factory activity unexpectedly
skidded to an 11-month low.
WORLD OIL PRICES
Oil prices dropped on Tuesday after activity in
China's factory sector fell to an 11-month low and as Saudi
Arabia said its production was close to an all-time high.
EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
* South Africa's rand climbed to its strongest level
in two weeks against U.S. dollar on Monday, tracking a
buoyant euro and breaking through a key psychological
technical resistance point.
* South African share prices eased slightly on
Monday with heavy hitters such as MTN Group trading
ex-dividend and despite higher copper prices boosting
producers of the metal.
SOUTH AFRICA RATES
South Africa's Reserve Bank is likely to wait until the
fourth quarter before raising interest rates,a
Reuters poll shows, meaning no change at a policy meeting
this Thursday.
KENYA MARKETS
Kenya's shilling was stable on Monday, supported by
offshore investors preparing to participate in this week's
government bond sale, while stocks closed lower .
NIGERIA ELECTION
Uncertainty about the outcome of this weekend's presidential
election will prompt Nigeria's central bank to keep interest
rates on hold at a meeting on Tuesday, but a
rise is likely in the second quarter, a Reuters poll found on
Monday.
NIGERIA RESERVES
Nigeria's foreign exchange reserves fell to
$30.01 billion by March 20, down 6.7 percent from $32.17
billion a month earlier, data from the central bank showed on
Monday.
MAURITIUS BUDGET
The Mauritius economy will grow rapidly in the coming fiscal
year, but the budget deficit will also widen as the new
government invests heavily to try to ratchet up output, the
finance minister said on Monday.
IVORY COAST COCOA
Rains fell across most of Ivory Coast's main cocoa growing
regions last week as the world's top producer emerged from a
particularly harsh dry season that farmers said on Monday
would delay the start for the April-to-September mid-crop
harvest.
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IVORY COAST GOLD
Ivory Coast launched an operation on Monday to shut down
hundreds of illegal gold mining sites blamed for violence,
unregulated immigration and environmental destruction, the
defence and mining ministers said.
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(Reuters)
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