African Markets - Factors to watch on March 12
NAIROBI, March 12 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. - - - - - EVENTS: ANGOLA - Angola's central bank to publish data on foreign exchange reserves for January. MOZAMBIQUE - Bank of Mozambique announces latest decision on interest rates after monetary policy committee meeting. NAMIBIA - Namibia's National statistics agency release monthly inflation data. GLOBAL MARKETS Asian stocks fell on Wednesday as economic uncertainty in China and the United States combined with political tensions in Ukraine to keep investors cautious and commodities under a dark cloud. WORLD OIL PRICES Brent futures fell towards $108 a barrel on Wednesday as demand growth concerns at the world's two biggest oil consumers overshadowed fears of supply disruption with geopolitical tensions over Ukraine worsening. 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 African stocks ended in the black on Tuesday led by e-commerce giant Naspers NPNJn.J and after a resurgence by gold and platinum shares. South Africa's rand weakened against the dollar on Tuesday, tracking the euro lower amid broadly poor investor sentiment towards emerging markets. ZAR/ NIGERIA ECOBANK The board of Ecobank ETI.LG removed its chief executive, Thierry Tanoh, on Tuesday following months of turmoil at one of the biggest financial institutions in sub-Saharan Africa. KENYA MARKETS The Kenyan shilling gained a little ground on Tuesday, helped by dollar sales by non governmental organisations (NGOs), while stocks closed lower. IVORY COAST DEFLATION Ivory Coast recorded consumer price deflation of -0.2 percent year-on-year in February, slipping from inflation of 0.1 percent in January, the National Statistics Institute (NSI) reported on Tuesday. UGANDA CURRENCY The Ugandan shilling UGX= gained against the dollar on Tuesday, buoyed by soft demand for the greenback and expectations corporate tax payments will depress demand further. UGANDA ANTI-GAYS LAW AND ECONOMY Ugandans opposed to a new anti-homosexuality law that punishes gay sex with long jail sentences have filed a constitutional petition alleging that the law violates fundamental rights. ZAMBIA COPPERBELT ENERGY Standard Chartered's STAN.L private equity arm has acquired a quarter of Zambia's Copperbelt Energy Corporation Plc CECZ.LZ for $57 million, its first investment in the growing African power industry. SOUTH SUDAN TRIAL South Sudan charged four high-profile prisoners with treason on Tuesday, dashing rebel hopes that they would be released ahead of peace talks planned in Ethiopia this month. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.