African Markets - Factors to watch on July 19
NAIROBI, July 19 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.
- - - - - EVENTS * Central Bank of Kenya auctions 91-day Treasury bills worth 3 billion shillings ($35.65 million). * Bank of Mauritius auctions 182-day Treasury bills worth a total 400 million rupees ($12.82 million). GLOBAL MARKETS Asian shares rose on Thursday as strong corporate profits from U.S. bellwethers allayed fears of a slowdown in earnings, particularly for the beleaguered tech sector, while the euro steadied after overnight weakness. WORLD OIL PRICES Brent crude held steady above $105 on Thursday, near a seven-week high on geopolitical fears, while comments by the U.S. Fed about the world's biggest economy avoiding a double-dip recession renewed hopes of a recovery in oil demand growth. EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on African stocks, click on AFRICA FIXED INCOME For news on African fixed income, click on SOUTH AFRICAN MARKETS South African stocks rose for the first time in three days on Wednesday, gaining 1.2 percent as investors bet recent underperformers like Kumba Iron Ore and Assore had fallen too far.
South African bond yields remained near record lows on Wednesday amid sustained foreign buying and the rand held steady in anticipation of a central bank interest rate decision on Thursday. US DEAL WITH E.AFRICA BLOC The United States has proposed a new trade deal with the East African Community (EAC) common market, underscoring the growing interest of American businesses in investing in Africa, a senior adviser to President Barack Obama said on Wednesday. NIGERIA INFLATION Nigeria's consumer price inflation rose marginally in June, statistics showed on Wednesday, supporting expectations that the central bank will hold interest rates steady at 12 percent next week. NIGERIA MARKETS Nigeria's stock index rose to more than an 11-month month high on Wednesday, lifted by gains in the banking sector following strong earnings and an increase in foreign capital inflows.
The Nigerian naira eased against the U.S. dollar on the interbank on Wednesday after large dollar sales by state-owned energy firm NNPC and at a central bank currency auction failed to quell demand for the greenback.
NIGERIA BANK'S EUROBOND Nigeria's Access Bank plans to issue a $350 million five-year Eurobond with pricing in the 7 percent range, a banking source with knowledge of the deal told Reuters on Wednesday. KENYA MARKETS The Kenyan shilling was little changed against the dollar on Tuesday, supported by tea exporters who sold greenbacks during the country's weekly auction, while shares gave up gains made in the previous session.
GHANA BUDGET Ghana's government asked parliament on Wednesday to allow extra spending before elections due later this year, stoking investor concerns over public finances in the West African country which last year started enjoying its first commercial oil revenues. UGANDA T-BOND The yield on Uganda's two-year paper fell at an oversubscribed auction worth 100 billion shillings ($40.49 million) on Wednesday to 14.8 percent from 15.2 percent at the last auction in May. UGANDA ROADS The Ugandan government is looking to raise nearly $1 billion through contractor-financing arrangements to enable the east African country to build 1,900 kilometres of roads, a senior official said on Wednesday. MAURITIUS T-BILL Mauritius' central bank said on Wednesday it would sell 1.4 billion rupees ($44.87 million) of a reopened three-year Treasury note on July 25.
RWANDA BANK STAKE Emerging markets private equity group Actis has sold its controlling stake in Banque Commerciale du Rwanda to a group of investors after helping the central African state's banking sector reach a large portion of the population. ZIMBABWE ECONOMY Zimbabwe has axed its 2012 growth forecast to 5.6 percent from the 9.4 percent projected earlier, Finance Minister Tendai Biti said on Wednesday, blaming a poor harvest, lack of donor funding and policy inconsistencies.
For the latest precious metals report click on
For the latest base metals report click on
For the latest crude oil report click on ($1 = 84.1500 Kenyan shillings) ($1 = 31.2000 Mauritius rupees)
- Tweet this
- Share this
- Digg this