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Africa, Forex

African Markets – Factors to watch on March 2

(Removes extraneous word in headline) Nairobi, March 2 – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. – – – – – GLOBAL MARKETS Asia extended the global rally in stocks on Tuesday as a halt in a recent bond markets sell-off eased investor nerves and lifted riskier assets, although oil prices were on the defensive on fears of slowing Chinese energy consumption. WORLD OIL PRICES When the world economy slammed on the brakes last year, there was a rush to store a wave of unwanted crude and products, but rising prices and optimism about demand is spurring a swift unwinding of storage contracts. 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 recovered on Monday from the previous session’s four-week low against the U.S. dollar as global bond markets calmed after last week’s sell-off. SOUTH AFRICA BANKS South Africa’s Standard Bank SBKJ.J has hired an independent environmental and social advisor to help assess its involvement in Total’s TOTF.PA East African Crude Oil Pipeline that environmental groups have opposed, it said on Monday. KENYA MARKETS Kenya’s shilling was stable on Monday mainly due to subdued demand for dollars, traders said. ZIMBABWE POLITICS Zimbabwe Vice President Kembo Mohadi resigned on Monday saying this was meant to save the image of the government following local media reports he had engaged in improper conduct. DRC EBOLA GOMA, Democratic Republic of Congo, March 1 (Reuters) – Three new cases of Ebola have been confirmed in eastern Democratic Republic of Congo, bringing to 11 the number of cases since authorities declared a resurgence of the virus last month. WTO COVID VACCINES The new chief of the World Trade Organization (WTO) urged its member states on Monday to work with pharmaceutical companies to license more COVID-19 vaccine manufacturing in developing countries in order to triple global production. AFRICA TESTING For much of last year, the coronavirus crept, undetected, across eastern Democratic Republic of Congo. NIGER POLITICS Authorities in Niger have brought eight charges against opposition leader Hama Amadou, including participation in an organization seeking to overthrow a democratic regime, one of his lawyers said on Monday. 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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