African Markets - Factors to watch on March 7

Reuters
03-07
African Markets - Factors to watch on March 7

NAIROBI, March 7 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

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GLOBAL MARKETS

Investors were met with some calm on Friday after a turbulent week besieged by U.S. trade policy confusion and a global rise in borrowing costs, as a steep selloff in bonds abated and currencies steadied, though stocks tracked Wall Street lower.nL3N3PP1DAMKTS/GLOB

WORLD OIL PRICES

Oil prices were little changed on Friday but were set for their biggest weekly decline since October as the uncertainty around U.S. tariff policy is creating concerns about demand growth at the same time major producers are set to increase output.nL2N3PQ041O/R

EMERGING MARKETS

For the top emerging markets news, double click on nTOPEMRG

AFRICA STOCKS

For the latest news on South African stocks, click on .J

SOUTH AFRICA MARKETS

South Africa's rand hit its highest in nearly three months against the dollar on Thursday, which is struggling as President Donald Trump's tariff policies fuel fears of a prolonged global trade war that could hit economic growth and fuel inflation.nL2N3PP0ID

AFRICA CURRENCIES

Kenya's currency could gain against the dollar in the next week to Thursday, while Nigeria's is expected to be broadly steady, and Uganda's and Zambia's could fall, traders said.nL5N3PP0G1

NIGERIA ELECTRICITY

Nigeria's electricity output has surged by 30% this week to a peak near 6,000 megawatts after the completion of part of an ongoing overhaul of the country's generation infrastructure.nL5N3PP0Z7

KENYA MARKETS

Kenya's shilling KES= held steady on Thursday, with dollar inflows and importer demand staying low, traders said.nL5N3PP0FH

AFRICA OIL OUTPUT

Canada's Africa Oil Corporation AOI.TO will double its Nigerian output and the size of its reserves there once it completes its deal for full ownership of Prime Oil next Tuesday, a senior company executive said.nL5N3PM0UK

TANZANIA PETROLEUM

Tanzania said on Thursday it will launch its fifth oil and gas licensing round in May in which 26 exploration blocks will be put to auction to help draw fresh investment in the east African country's hydrocarbons sector.nL5N3PP1TA

SENEGAL IMF

The International Monetary Fund is working with Senegal to "correct and remedy" debt misreporting that took place under the West African country's previous administration, a spokesperson for the global lender said on Thursday.nL2N3PP0YQ

SENEGAL OIL

Oil production from Senegal's Sangomar offshore field operated by Woodside Energy WDS.AX reached 2.7 million barrels in February, down from 3.11 million barrels the previous month, the West African nation's oil ministry said on Thursday.nL2N3PP0HW

SOUTH SUDAN SECURITY

South Sudanese forces loyal to President Salva Kiir continued to round up allies of First Vice President Riek Machar on Thursday, arresting the peacebuilding minister in an escalation of a dispute church leaders warned could lead to a new civil war.nL2N3PP0ND

DEMOCRATIC REPUBLIC OF CONGO SECURITY

Congo's former President Joseph Kabila has initiated talks with opposition politicians about the country's political future as Rwanda-backed rebels seize territory in the east, five sources familiar with the outreach told Reuters.nL5N3PP0TR

DEMOCRATIC REPUBLIC OF CONGO COBALT

Eurasian Resources Group $(ERG.AU)$ has declared force majeure on deliveries of battery material cobalt from its Metalkol operation due to the Democratic Republic of Congo's temporary export ban, two sources familiar with the matter said.nL5N3PP1DQ

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((Compiled by Nairobi Newsroom))

((Email: nairobi.newsroom@thomsonreuters.com))

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