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African Markets - Factors to watch on June 24
June 24, 2013 / 5:27 AM / 4 years ago

African Markets - Factors to watch on June 24

June 24 (Reuters) - The following company announcements, scheduled economic indicators, debt
and currency market moves and political events may affect African markets on Monday.
               - - - - -
 Asian shares fell to a fresh 9-1/2-month low on Monday as investors
 worried about China's economic and financial stability and markets
 scrambled to price in the Federal Reserve's plan to tone down its
 stimulus drive starting later this year.                           
 Brent crude futures traded below $101 a barrel on Monday, hurt by a
 stronger dollar and concerns over slower growth in demand for oil in
 the United States and China.                      
 Kenyan bonds yields are expected to strengthen next week as investors
 pull out of low-yielding treasury bills into longer-term debt, while
 the U.S. Federal Reserve's plan to scale back its stimulus programme
 will keep Nigerian yields under pressure.                
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 * South Africa's government bonds edged higher on Friday, taking a
 breather after bearing the brunt of an emerging market sell-off earlier
 in the week on expectations the U.S. will scale back its bond
 * South African stocks slid more than 3 percent on Thursday as global
 markets slumped on the prospect of a slowdown in the U.S. Federal
 Reserve's bond-buying programme.                
 * Nigeria plans to raise between 140-250 billion naira ($869.03-$1.55
 bln) in sovereign bonds            in the third quarter of, around 40
 percent less then the previous quarter, the Debt Management Office
 (DMO) said on Friday.                
 * Nigerian interbank lending rates ended the week unchanged at an
 average of 11.33 percent, as maturing treasury bills and anticipated
 flows of public funds kept the market from tightening.                
 * Royal Dutch/Shell          is considering a further reduction in its
 oil production in the eastern Niger Delta, where decades of spills and
 oil thefts have damaged the region's environment and the reputation of
 the company.                
 * Nigeria is being prevented from exporting liquefied natural gas (LNG)
 after a maritime security agency blocked and detained ships over a tax
 dispute, the state-LNG company (NLNG) said on Saturday.                
 Economic growth in Kenya will accelerate this year but wide current
 account and budget deficits and inflationary pressures may deter
 investors, a Reuters poll found on Friday.                  
 China's Sinopec Group has agreed to buy Marathon Oil Corp's        
 Angolan offshore oil and gas field for $1.52 billion, Asia's largest
 refiner producer said.                
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