African Markets – Factors to watch on March 27

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. – – – – – EVENTS: Central Bank of Kenya’s Monetary Policy Committee meets to decide on its key lending rate. Kenya National Bureau of Statistics to release inflation rate for March. GLOBAL MARKETS U.S. stock futures and the dollar fell on Monday while Asian markets struggled as President Donald Trump’s failure on healthcare reform raised questions about his ability to push through tax cuts and fiscal spending to boost the economy. WORLD OIL PRICES Oil prices dipped on Monday as rising U.S. drilling activity outweighed talks that an OPEC-led production cut initially due to end in mid-2017 may be extended. 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 retreated against the dollar on Friday, giving up gains driven by improving appetite for emerging markets assets and a set of local data showing momentum was returning to the domestic economy. NIGERIA MARKETS Nigeria’s naira firmed to 390 per dollar on the black market on Friday, up 2.6 percent from its previous session and near the central bank’s rate for consumers, traders said. NIGERIA BUDGET Capital released to Nigeria’s ministries and government agencies under the 2016 budget has reached a record 1 trillion naira ($3.3 billion), the finance minister said on Sunday. KENYA MARKETS The Kenyan shilling was stable against the dollar on Friday and was seen rangebound as market players await the central bank’s monetary policy rate decision on Monday, traders said. KENYA RATES Faster inflation in Kenya will not prompt the Central Bank of Kenya to hike interest rates on Monday, according to a Reuters poll of economists who note most of the price pressure is being stoked by food prices amid an acute drought in east Africa. UGANDA MARKETS The Ugandan shilling weakened slightly on Friday, undercut by a surge in demand for dollars from players in the interbank market looking to beef up their positions. GHANA T-BILLS The Bank of Ghana said the yield on its weekly 91-day bill rose to 17.5103 percent at an auction on Friday, from 17.2108 percent at the last sale, on March 17. IVORY COAST SECURITY Ivory Coast rescinded an order on Sunday to increase security at its two main ports after determining that an earlier reported threat of terrorism was unfounded, according to a document seen by Reuters. SOUTH SUDAN Six aid workers were killed in an ambush in South Sudan on Saturday while travelling from the capital Juba to the town of Pibor, the United Nations said on Sunday, without specifying if they worked for the U.N. or giving other details. TANZANIA GOLD Acacia Mining is losing more than $1 million in revenue each day at two mines in Tanzania because of the country’s ban on exports of gold and copper concentrates, the London-listed company said on Friday. ZAMBIA COPPER Indian mining company Vedanta Resources VED.L said on Friday it will invest $1 billion in its Zambian mining unit Konkola Copper Mines (KCM), creating 7,000 jobs. SOMALIA TERRORISM The head of U.S. forces in Africa told reporters on Friday that greater authority to fight al Qaeda-linked al Shabaab militants in Somalia would lead to more flexibility and quicker targeting, but that a decision had not yet been made by the White House. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on

Isha Ku Hay Alljubland Media

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