Reuters – African Markets – Factors to watch on Feb. 22
The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Thursday.
– – – – –
Most Asian share markets followed S&P 500 futures lower on
Thursday as speculation of faster hikes in U.S interest
rates soured risk appetite globally.
The dollar held onto most of its overnight gains courtesy of
higher Treasury yields, though the sudden shift to safety
spurred demand for the Japanese yen.
WORLD OIL PRICES
Oil prices fell on Thursday, pulled down as a firmer dollar
outweighed a report of a decrease in U.S. crude inventories.
For the top emerging markets news, double click on
For the latest news on African stocks, click on
SOUTH AFRICA MARKETS
South Africa’s rand was a touch weaker in early deals on
Wednesday as traders refrained from making any large moves
ahead of the budget speech later in the day.
The Kenyan shilling was firm against the dollar on
Tuesday supported by inflows from remittances and offshore
investors trading stocks at the Nairobi securities exchange,
SWITZERLAND CONGO SANCTIONS
Switzerland imposed sanctions including asset freezes and
travel bans on 14 allies of Democratic Republic of Congo’s
President Joseph Kabila on Wednesday amid a worsening
political crisis linked to his refusal to step down.
SOUTH AFRICA LAW
A South African court has found Finance Minister Malusi
Gigaba violated the constitution in statements he made about
his decision to revoke his approval of a company’s bid to
open a private airport immigration facility.
Members of five teaching unions in Algeria went on strike
this week over better pay and conditions, joining hundreds
of colleagues who already walked out months ago amid public
spending cuts caused by falling energy prices.
Apple Inc is talking to major cobalt producers to
secure supplies of the material vital for the lithium-ion
rechargeable batteries that power its mobile phones, three
cobalt industry sources said.