African Markets - Factors to watch on Oct 17

Mon Oct 17, 2011 5:27am GMT
 

NAIROBI, Oct 17 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Monday.	
    - - - - -	
 EVENTS:
 * NIGERIA - September CPI data due out. Nigeria's headline 
 inflation was broadly steady at 9.3 percent year-on-year in August 
 from 9.4 percent in July.
 * MALAWI - September inflation figures expected. Consumer 
 inflation quickened to 7.6 percent year-on-year in August from 7.4 
 percent in July.
 * ZIMBABWE - Expecting Zimbabwe inflation for September. Headline 
 consumer inflation edged up to 3.5 percent year-on-year in August 
 from 3.3 percent in July.
 * TANZANIA - September CPI data due out. Tanzania's consumer price 
 inflation rose for the 10th straight month in August to 14.1 
 percent and higher food costs and an energy crisis are expected to 
 keep driving prices higher in the coming months.
 * KENYA - Kenyan security forces hunting down Somalia's al Shabaab 
 militants inside the Horn of Africa country. Outwatching market 
 impact. 
 
 GLOBAL MARKETS
 Asian shares rose on Monday and the euro held near a one-month 
 high amid hopes that a crucial week for the euro zone crisis will 
 see policymakers finally come up with a plan to resolve the 
 region's debt woes and recapitalise its banks.  
 
 WORLD OIL PRICES
 Brent crude futures climbed towards $113 on Monday, extending the 
 previous session's sharp gains on hopes European policymakers 
 would reach an agreement to tackle the euro zone's debt crisis and 
 help stem a slowdown in oil demand. 
 
 EMERGING MARKETS
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 AFRICAN DEBT
 Nigerian bond yields are expected to rise at auction on Wednesday 
 after the central bank hiked its monetary policy rate this week.  
    Meanwhile, treasury bill auctions in Kenya could be 
 undersubscribed if the central bank continues in its attempts to 
 tighten liquidity.  
 
 SOUTH AFRICA MARKETS
 South Africa's rand edged higher against the dollar on Friday and 
 was on track for a weekly advance of more than 1.6 percent, with 
 the market trusting the authorities will more likely act to 
 support the currency, than let it depreciate. 
 
 NIGERIA MARKETS
 * Nigerian naira weakness is likely to be temporary and as 
 monetary tightening measures take effect the local currency should 
 strengthen, the central bank governor told Reuters on Friday. 
  
 * Nigeria's headline inflation rose outside the central bank's 
 notional single-digit target in September, data showed on Friday, 
 despite six official interest rate rises this year. 
   
 
 KENYA MARKETS
 *  Kenya's shilling rallied 3 percent against the dollar on 
 Friday as banks sold greenbacks after the central bank lowered 
 commercial banks' foreign exchange exposures and mopped up 
 liquidity through repurchase agreements. 
 * Kenya Airways shareholders approved on Friday its plan 
 for a rights issue to raise an unspecified amount of money to fund 
 route and fleet expansion. 
 
 KENYA SECURITY
 Kenya deployed columns of troops into neighbouring Somalia and 
 launched an offensive against al Shabaab militants on Sunday, 
 helping to drive the al Qaeda-linked militants out of two bases. 
    
 
 GHANA DEBT
 The Bank of Ghana accepted bids at its oversubscribed three-year 
 bond auction at an average yield of 14 percent, its head of 
 treasury Adams Nyinaku told Reuters on Thursday, up from the 13 
 percent yield of the last three-year bond auction in July. 
 
 
 MAURITIUS DEBT
 Mauritius rejected all bids on 91-day Treasury bills for the 
 second straight week, but accepted 182-day paper, as well as the 
 273-day and the 364-day T-bills, the central bank said on Friday. 
 
 
 BOTSWANA INFLATION
 Botswana's consumer inflation slowed slightly to 8.6 percent 
 year-on-year in September from 8.7 percent year-on-year in August, 
 the Central Statistics Office said on Friday. 
 
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