March 31, 2015 / 5:35 AM / 4 years ago

African Markets - Factors to watch on March 31

NAIROBI, March 31 (Reuters) - The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Tuesday.
    - - - - -
 EVENTS:
 * KENYA - Inflation data for March due to be announced
 
 GLOBAL MARKETS
 Asian stocks rose across the board on Tuesday after a rally
 on Wall Street and steps by China to shore up its economy
 boosted risk appetite, while Greek debt worries again haunted
 the sagging euro.            
 
 WORLD OIL PRICES
 Oil futures extended losses on Tuesday, as Iran and six world
 powers ramped up the pace of negotiations to reach a
 preliminary deal that could ease sanctions and allow more
 Iranian crude onto world markets.      
 
 EMERGING MARKETS
 For the top emerging markets news, double click on           
 
 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 AFRICA FOREX
 The Zambian kwacha is seen strengthening on positive
 sentiment after the president signalled a change on mining
 royalties opposed by foreign mining firms, but most other
 African currencies could weaken on dollar demand by
 importers.                
 
 SOUTH AFRICA MARKETS
 * South Africa's rand extended losses against the dollar on
 Monday, hitting a new one-week low, as a basket of currencies
 suffered at the hand of a stronger greenback.       
                
 * South African stocks advanced on Monday with strong gains
 in the resource sector, spurred by mining giants BHP Billiton
          and Anglo American                          
 
 NIGERIA ELECTION
 Nigerian opposition contender Muhammadu Buhari built a lead
 of over 2.5 million votes with only six states uncounted on
 Monday, raising the prospect of a stunning ballot box victory
 for a man who first came to power three decades ago via a
 military coup.                
 
 NIGERIA MARKETS
 Nigerian stocks climbed 1.7 percent on Monday, rising to
 almost a three-week high as domestic investors snapped up
 shares in the relatively liquid banking sector, awaiting the
 outcome of Saturday's presidential vote.                
 
 KENYA MARKETS  
 Kenya's shilling        weakened on Monday over fears that
 new travel warnings could further batter the country's ailing
 tourism sector and put pressure on hard currency inflows. The
 main benchmark share index rose.                      
 
 TANZANIA RAIL
 Tanzania plans to spend $14.2 billion to construct a new rail
 network in the next five years financed with commercial
 loans, the transport minister said, as the country aims to
 become a regional transport hub.                
 
 TANZANIA GAS
 Norwegian energy firm Statoil          has made another
 natural gas discovery in Block 2 offshore Tanzania, boosting
 gas volumes by 1.0-1.8 trillion cubic feet of gas (28.5-51.3
 billion cubic metres) the company said on Monday.
                
 
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 (Writing by Drazen Jorgic)
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