The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.
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NIGERIA – The central bank sets lending rates. A Reuters poll showed markets expect the benchmark rate to be unchanged.
Asian shares hit 15-month highs on Tuesday while the dollar and U.S. bond yields were on the back foot on the prospect of a less-hawkish Federal Reserve policy trajectory.
WORLD OIL PRICES
Oil prices rose on Tuesday on expectations that an OPEC-led production cut to prop up the market could be extended, while strong demand would also work to slowly erode a global
fuel supply overhang.
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SOUTH AFRICA MARKETS
South Africa’s rand rose to its strongest level in 19 months on Monday, extending gains to the fourth straight session as the U.S. Federal Reserve’s less hawkish-than-expected
comments continued to drag the U.S. dollar lower.
Nigeria’s central bank plans to offer $100 million in currency forwards on Monday to be delivered within the next 60 days, traders said.
Nigeria’s state-backed ‘bad bank’ AMCON has sold the nationalised Keystone Bank to a consortium of local investors called Sigma Golf Nigeria Limited and Riverbank
Investment Resources, it said on Monday.
The Kenyan shilling KES= was seen depreciating against the dollar on Monday, owing to a likely surge in demand from oil importers, traders said.
KENYA SYNDICATED LOANS
Kenya borrowed $800 million in a syndicated loan from four international commercial lenders, part of a package totalling $1.55 billion.
TANZANIA WORLD BANK LOAN
The World Bank will lend Tanzania $2.4 billion over the next three years to finance infrastructure projects, the bank’s president Jim Yong Kim said on Monday.