March 1, 2012 / 6:11 AM / 5 years ago

African Markets - Factors to watch on March 1

 NAIROBI, March 1 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Thursday.	
 - - - - -	
 EVENTS:
 UGANDA-Bank of Uganda due to announce benchmark lending rate for March
 KENYA-The central bank offers 4 billion shillings of 91-day Treasury bills.
 ZAMBIA-The central bank offers 91, 182, 273 and 364-day Treasury bills.
 KENYA-Kenya Commercial Bank          full-year results due after 1130 GMT.
 
 GLOBAL MARKETS
 Asian shares fell on Thursday as Federal Reserve Chairman Ben Bernanke put the 
 brakes on a recent rally by curbing optimism about the strength of the U.S. 
 economic recovery, but without signalling any further monetary easing to 
 stimulate growth.                 
 
 WORLD OIL PRICES
 Brent crude futures held steady above $122 on Thursday, drawing support from a 
 faster-than-expected expansion of the U.S. economy and better factory data from 
 China amid concerns of supply disruption from the Middle East.                 
 
 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 the latest on African debt, click on                
 
 SENEGAL ELECTION
 Senegal's President Abdoulaye Wade won 34.8 percent of the vote in the 
 presidential election, falling short of the absolute majority needed to avoid a 
 run-off, according to the first official results released on Wednesday. 
             
 
 SOUTH AFRICA MARKETS
 * The rand firmed nearly one percent on the dollar on Wednesday as risky assets 
 gained from a cash injection from the European Central Bank, leading the local 
 currency to shrug off a gaping trade deficit number reported during the session.
             
 * Growing global bullishness may erode South African stocks' perceived safe 
 haven status, which helped them outperform many emerging markets last year 
 despite infrastructure bottlenecks, political risk and rand volatility. 
             
 
 NIGERIA MARKETS
 * Nigeria's foreign exchange reserves             fell to $34.74 billion by Feb. 
 27, from $35.03 billion on Feb. 13, their highest in six months, the latest data 
 from the central bank showed on Wednesday.                
 * The Nigerian naira          weakened against the U.S dollar on Wednesday on a 
 resurgence of dollar demand at the interbank market, but it remained unchanged 
 at the official foreign exchange window.                
 
 KENYA MARKETS
 * Kenya's shilling        weakened against the dollar on Wednesday a day after 
 the acting finance minister said the central bank should prevent the local 
 currency from strengthening beyond 82 per greenback, while 
 stocks extended their rally.                
 * Yields on Kenya's 182-day Treasury bills            fell in an oversubscribed 
 auction on Wednesday as offshore government debt hunters sought to lock in rates 
 which could trend lower after inflation fell.                
 
 UGANDA INFLATION, BONDS, POLL
 * Heavy demand for Uganda's three and five-year Treasury bonds drove down yields 
 at an auction on Wednesday, maintaining a  downward trend prompted by a new 
 cycle of policy easing by the central bank.                
 * Uganda's headline inflation rate              fell for a fourth straight month 
 in February, edging down to 25.4 percent from 25.7 percent in January, the 
 Uganda Bureau of Statistics (UBOS)said on Wednedsay.                   
 * Uganda's economy is set to grow 6.2 percent this year as oil and hydropower 
 production projects bring foreign investment that could also see the shilling 
 regain lost ground, a Reuters poll of 10 economists showed on Wednesday. 
             
 
 MALAWI BILLS
 Malawi 3-month T-bill yield rises to 6.9 percent.                
 
 MOZAMBIQUE BILLS
 Mozambique 3-month T-bill yield falls to 8.37 percent.                
 
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