Market News

African Markets – Factors to watch on Feb 18 - REUTERS

FEBRUARY 18, 2025

NAIROBI, Feb 18 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.

GLOBAL MARKETS

European futures hit record peaks on Tuesday as defence stocks soared on expectations of a spending bump, while Hong Kong shares were on the verge of three-year highs as investors cheered business leaders’ meeting with President Xi Jinping.

WORLD OIL PRICES

Brent crude oil prices paused in early trading on Tuesday after gaining in the previous session following a drone attack on an oil pipeline pumping station in Russia that reduced flows from Kazakhstan.

SOUTH AFRICA MARKETS

South Africa’s rand weakened on Monday, ahead of Finance Minister Enoch Godongwana’s budget speech this week, which will provide insights on the state of Africa’s most industrialised economy.

KENYA MARKETS

Kenya’s shilling was little-changed against the dollar on Monday, data from the London Stock Exchange Group showed.

ETHIOPIA DEBT

A committee of Ethiopia’s bondholders said on Monday the International Monetary Fund’s latest report on the country contained flaws that “artificially” outline a solvency issue, a scenario that would require lenders to grant debt relief.

GABON DEBT

Gabon said on Monday that it had agreed to buy back around $225 million of its $605 million Eurobond maturing in 2025.

DEMOCRATIC REPUBLIC OF CONGO SECURITY

Residents of eastern Congo’s second-largest city on Monday surveyed the aftermath of widespread looting that accompanied the arrival of Rwandan-backed M23 rebels who have pledged to restore order.

NAMIBIA PETROLEUM

African energy explorer Rhino Resources’ Sagittarius 1-X well offshore in Namibia’s Orange Basin has intersected a hydrocarbon reservoir, the company said in a statement on Monday, in an eagerly awaited result for one of the world’s exploration hotspots.

ANGOLA OIL

Angola will load 33 crude oil cargoes in April, according to a trade source citing a preliminary loading programme.

(Compiled by Nairobi Newsroom)