September 13, 2012 / 5:36 AM / 5 years ago

African Markets - Factors to watch on Sept 13

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Thursday.
    - - - - -
 EVENTS
 KENYA - Central Bank of Kenya auctions 91-day
 Treasury bills. The weighted average yield on the
 same paper            fell to 7.808 percent last
 week from 8.119 percent previously. 
 MAURITIUS - Bank of Mauritius to sell 91-day
 Treasury bills worth 400 million rupees ($13.20
 million)
 NAMIBIA - August consumer prices data due out. The
 CPI accelerated to 6.0 percent yr/yr in July from
 5.6 percent in June.     
     �
 GLOBAL MARKETS
 Asian shares steadied in choppy trade on Thursday
 ahead of the U.S. Federal Reserve's decision later
 in the day, as investors remained cautiously
 optimistic for further stimulus action to bolster
 the world's largest economy.                
 
 WORLD OIL PRICES 
 Brent crude steadied near $116 a barrel on
 Thursday, after rising for five straight sessions,
 as traders awaited a U.S. Federal Reserve policy
 decision that is expected to include further
 stimulus action to bolster the world's largest
 economy.                
 
 NIGERIA ECONOMY
 Nigerian Finance Minister Ngozi Okonjo-Iweala is
 battling to reform one of the world's most corrupt
 nations without support from the shadowy
 "godfathers" who wield power fr o m behind the
 scenes.                
 
 SOUTH AFRICA MINING
 Machete-wielding strikers forced top world
 platinum producer Anglo American Platinum         
 to shut down some of its South African operations
 on Wednesday, widening the labour unrest sweeping
 through the country's mining industry.
                 
 
 EMERGING MARKETS
 For the top emerging markets news, double click on
            
 
 AFRICA STOCKS
 For the latest news on African stocks, click on
 
 SOUTH AFRICA MARKETS 
 *  The rand fell 3 percent against the dollar,
 recording it biggest daily plunge in nearly three
 months on Wednesday afternoon as New York traders
 came into a weaker rand and triggered stop-losses
 that took the currency to a week-low.
                
 * South African stocks rose on Wednesday despite
 spreading labour unrest in the mining sector which
 thumped shares of Anglo American Platinum
         , with the wider market pulled up on
 renewed hopes the euro zone can contains its debt
 crisis.                  
 
 NIGERIA MARKETS
 * Nigeria's naira currency weakened against the
 U.S. dollar on the interbank market on Wednesday,
 on strong dollar demand from importers, as dollar
 sales by a unit of Shell          come in too late
 after the market was shut.                
 * Nigeria has signed a deal to borrow $600 million
 from China's Export-Import Bank, most of which
 will be used to build a railway servicing the
 capital Abuja and surrounding areas, the finance
 ministry said on Wednesday.                
 
 KENYA MARKETS
 *Kenya's main share index          climbed for a
 second session on Wednesday led up by 
 banking shares as investors grew optimistic that
 credit demand will start to improve following a
 record rate cut last week, while the shilling held
 steady.                
 * The weighted average yield on Kenya's 182-day
 Treasury            bill fell to 8.993 percent at
 an oversubscribed auction on Wednesday from 9.351
 percent last week, the central bank said.
 
 KENYA CLASHES
 A government minister pleaded not guilty on
 Wednesday to charges he had incited violence in a
 dispute over land and water in Kenya's coastal
 region in which over 100 people have been killed,
 but was later sacked from the Cabinet anyway.
                
 
 GHANA RATES
 The rate-setting committee of the Bank of Ghana
 decided on Wednesday to keep its prime interest
 rate unchanged at 15 percent, citing a balanced
 inflation and growth outlook in the West African
 state.                
 
 EAST AFRICA DEBT
 * The weighted average yield on Uganda's
 three-year Treasury bond fell to 11.8 percent on
 Wednesday from 15.2 at the last auction on June
 20.                
 *  The weighted average yield on Tanzania's 91-day
 Treasury bills rose to 12.08 percent on Wednesday,
 from 11.64 percent at the last auction two weeks
 ago, the central bank said on its website. 
 
 UGANDA EXPLORATION
 An influential Ugandan parliamentary committee has
 called for a model oil production sharing
 agreement to stop the government from being
 short-changed, a move pressure groups say could
 curb corruption and create benchmarks by which to
 judge the quality of future deals.                
 
 SOUTH SUDAN OIL
 South Sudan could produce at least 300,000 barrels
 per day of oil when it resumes full production,
 but that may take until mid-2013 because of damage
 caused during its border dispute with Sudan, an
 oil official said on Wednesday.                
 
 MOZAMBIQUE ECONOMY
 *Mozambique's central bank cut its benchmark
 interest rate by 100 basis points to 10.5 percent
 on Wednesday, citing the potential impact of the
 European debt crisis on economic growth. 
 * Mozambique's inflation slowed to 1.41 percent
 year-on-year in August from 1.88 percent in July,
 its statistics agency said on Wednesday. 
 
 
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($1 = 30.3500 Mauritius rupees)

($1 = 30.3000 Mauritius rupees)

0 : 0
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