African Markets - Factors to watch on March 5

About this update from Kenya Pipeline Company Plc

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. - - - - -GLOBAL MARKETSAsian shares rallied on Thursday with a decline in U.S. Treasuries pointing to a tentative recovery in risk appetite that has been hammered by the escalating war in the Middle East.WORLD OIL PRICESOil prices rose on Thursday amid growing concern over the prolonged closure of the Strait of Hormuz, as the U.S.-Iran war chokes off vital Middle East oil and gas flows while production facilities limit output.EMERGING MARKETSFor the top emerging markets news, double click on AFRICA STOCKSFor the latest news on South African stocks, click on SOUTH AFRICA MARKETSSouth Africa's stocks, government bonds and rand recovered some ground on Wednesday after the previous day's steep selloff triggered by the conflict in the Middle East.NIGERIA DANGOTE REFINERYNigeria's Dangote oil refinery has issued tenders to sell gasoil and jet fuel in March, a trade source said, citing a tender document summary.KENYA PMIKenya's private sector activity expanded at a slower pace in February, hurt by slowing performance in agriculture and manufacturing, but got a lift from construction, wholesale and retail and services, a survey showed on Wednesday.KENYA IMFKenya does not expect an ongoing International Monetary Fund staff visit to yield a lending programme at this stage, its finance minister said on Wednesday, with talks currently focused on more technical details.KENYA PIPELINE IPODemand from Kenyan and regional investors helped Kenya Pipeline Company's initial public offering become oversubscribed, the finance minister said on Wednesday, as the state‑owned firm raised the 106.3 billion shillings ($823.7 million) the government had targeted in its first major deal in nearly 20 years.DEMOCRATIC REPUBLIC OF CONGO MININGMore than 200 people died on Tuesday in a landslide triggered by heavy rains at the Rubaya coltan mine in eastern Democratic Republic of Congo, the country's mines ministry said on Wednesday.IVORY COAST COCOAIvory Coast has cut the fixed farmgate price paid to cocoa farmers by 57% to 1,200 CFA francs ($2.14) per kg for the mid-crop, agriculture minister Bruno Kone said on Wednesday, as the government seeks to boost sales after global prices fell.For the latest precious metals report click on ...

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