NAIROBI, June 5 - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.
- - - - - EVENTS: *KENYA- Central Bank of Kenya's Monetary Policy Committee holds its rate decision meeting. The committee left the benchmark lending rate at 18 percent for the fifth month in a row in May, and analysts polled by Reuters expect a hold in Tuesday's meeting. *Mauritius releases its May inflation statistics. Its annual average inflation rate slowed to 5.6 percent in April from 5.9 percent a month earlier. *The central Bank of Botswana to auction a 14-day certificate Treasury bill. GLOBAL MARKETS Asian shares, the euro and commodities rebounded on Tuesday, with stocks holding a touch above 2012 lows, as investors looked to European policymakers and the wider G7 to take decisive action to address the worsening euro zone crisis. WORLD OIL PRICES Brent crude prices rebounded for a second straight session on Tuesday, rising above $99 per barrel on support from a weaker dollar and hopes that the world's leading economies will take new action to tackle the euro zone's debt crisis. 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 AFRICA MARKETS South Africa's rand plunged to a three year low against the dollar on Friday as weak U.S. jobs data intensified fears of a global economic slump and sent investors scurrying away from risky emerging market assets.
Meanwhile, the rand recovered its footing against the dollar on Monday after a rout last week as fears the euro zone could disintegrate abated, but a lack of a lasting solution to the region's debt woes should keep investors largely risk-averse. NIGERIA MARKETS Nigeria's naira weakened to a four-month low on Monday as foreign investors nervous about inflation and currency weakness pulled their money out of government bills and bonds to repatriate it. KENYA MARKETS The Kenyan shilling was barely changed against the dollar on Monday as market participants awaited a decision on rates during the next session, while the benchmark shares index edged up.
The shilling closed at 85.90/86.10 to the dollar, barely moved from Thursday's close of 86.00/20, while the Nairobi Securities Exchange's main NSE-20 Share Index edged up by 0.07 percent to close at 3,653.29 points. Markets were closed on Friday for a national holiday.
KENYA RATE Kenya's central bank is expected to leave its benchmark interest rate unchanged at 18 percent when it meets on Tuesday, given the risks to the inflation outlook and pressure on the shilling, a Reuters poll showed.
GHANA SUBSIDY Ghana will maintain fertiliser subsidy levels for all its crops for the 2012/2013 growing season, senior government officials said on Monday after speculation by some on markets that cocoa subsidies might be cut due to low world prices . IVORY COAST INFRASTRUCTURE FUNDS Ivory Coast has raised 180 billion CFA francs ($339.25 million) in financing for infrastructure projects so far in 2012 through a combination of bourse-traded bonds and treasury bills, the treasury said on Monday.
IVORY COAST COCOA Ivory Coast had sold between 620,000 and 640,000 tonnes of its 2012/2013 cocoa harvest by May 20 as part of a system of auctions introduced earlier this year, an official in the finance ministry said on Monday.
CAMEROON MINING China's Hanlong Mining has cleared one of three key hurdles to its long-delayed $1.3 billion takeover of Australia's Sundance Resources
, agreeing on key terms with Cameroon for developing the Mbalam iron ore project. VODACOM CONGO SALE The Democratic Republic of Congo Supreme Court has suspended a planned mandatory auction of shares in the local unit of South African mobile phone provider Vodacom , the parent company said on Monday.
MOZAMBIQUE BUDGET Mozambique will receive $606 million in aid next year, with the global economic slowdown causing the amount to be cut by just over 10 percent from what has been set aside for this year, the donors said on Monday.
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