African Markets – Factors to watch on March 17

Whatapp News





Spread the love

NAIROBI, March 17  - The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Tuesday.
    - - - - -
 Events:
 NIGERIA - Inflation data due to be released
 
 GLOBAL MARKETS
 Asian shares rose on Tuesday, following Wall Street's lead,
 as investors positioned for the possibility that
 weaker-than-expected U.S. data will prompt the Federal
 Reserve to leave its options open this week on the timing of
 a future rate hike.  [pro_ad_display_adzone id="10"]
          
 
 WORLD OIL PRICES
 Brent crude oil prices reversed most of their early gains to
 steady below $54 per barrel on Tuesday as high ongoing
 oversupply dragged on the market.      
 
 EMERGING MARKETS
 For the top emerging markets news, double click on           
 
 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 NIGERIA MARKETS:
 Nigeria's naira traded within a range at which it
 has been stuck for almost a month on the interbank market,
 supported by dollar sales from the central bank and oil
 companies, dealers said on Monday.                
 
 KENYA MARKETS  
 Kenya's central bank sold dollars to banks on Monday to prop
 up the shilling after the currency weakened to a new
 three-year low beyond a psychologically important level, hurt
 by demand for the greenback from the energy sector. The
 benchmark stock index edged lower.                
 
 TANZANIA
 Tanzania plans to debate a new bill in parliament this month
 to guide the development of the country's nascent gas
 industry, officials said on Monday, adding it could be passed
 this month.                
 
 CAMEROON COCOA
 Cameroon plans to double its cocoa processing capacity to
 about 30 percent of its total production or nearly 70,000
 tonnes of beans per year by adding 10 new processing units, a
 government official said on Monday.                
 
 ZIMBABWE AIRLINE
 State-owned Air Zimbabwe needs $260 million in new capital
 because it is insolvent and wants the government to take over
 $298 million in debts to help turn around the loss-making
 carrier, its officials said on Monday.
(Reuters)

 


Spread the love

Whatapp News