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Africa, Forex

African Markets – Factors to watch on Feb. 26

NAIROBI, Feb 26 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. – – – – – EVENTS: KENYA – The statistics office is due to release consumer price inflation data for February. UGANDA – The statistics office is due to release consumer price inflation data for February. GLOBAL MARKETS Asian stocks skidded to one-month lows on Friday as a rout in global bond markets sent yields flying and spooked investors amid fears the heavy losses suffered could trigger distressed selling in other assets. WORLD OIL PRICES Oil prices fell on Friday as a collapse in bond prices led to gains in the U.S. dollar and expectations grew that with oil prices back above pre-pandemic levels, more supply is likely to come back to the market. 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 fell on Thursday, giving up the previous session’s gains when Finance Minister Tito Mboweni’s budget speech reassured some investors the country could avoid a full-scale fiscal crisis. KENYA MARKETS Kenya’s shilling was little changed on Thursday, though end-of-month dollar demand across all sectors was expected to create weakening pressure, traders said. KENYA VACCINE Kenya’s first batch of COVID-19 vaccines will arrive in the first week of March, the presidency said on Thursday, with healthcare workers, frontline workers and vulnerable population groups to be given priority. NIGERIA OIL Nigeria is losing 200,000 barrels of crude oil a day because of theft and vandalism, the head of the state oil company said, underscoring how insecurity is causing vast financial losses for the West African country. UGANDA OIL Uganda said on Thursday the construction of a $3.5 billion oil pipeline with France’s Total due to run through neighbouring Tanzania was expected to begin shortly. ETHIOPIA CONFLICT Eritrean soldiers killed hundreds of civilians in Ethiopia’s ancient town of Axum between Nov. 28 and 29, rights group Amnesty International said on Friday, one of several mass killings reported during a conflict that erupted nearly four months ago in the northern region of Tigray. AFRICA VACCINES The African Union is backing calls for drugmakers to waive some intellectual property rights on COVID-19 medicines and vaccines to speed up their rollout to poor countries, the head of its disease control body said on Thursday. UGANDA COFFEE Uganda’s coffee exports declined 4.9% in January from the same month last year on account of low arabica yields, the state-run regulator Uganda coffee development Authority (UCDA) said. 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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