African Markets - Factors to watch on April 11

Wed Apr 11, 2012 5:39am GMT
 

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Wednesday.	
    - - - - -	
 EVENTS:
 KENYA - The central bank auctions 91-day and
 182-day Treasury bills worth a total 7 billion
 shillings.
 KENYA - HassConsult, which conducts the only
 property pricing index in east Africa's largest
 economy, releases its property pricing index for
 first quarter 2012. 
 TANZANIA - Bank of Tanzania sells Treasury bills
 of various maturities.
 
 GLOBAL MARKETS
 Asian shares fell for a third straight day on
 Wednesday as investors reduced their risk
 positions due to uncertainty over global growth
 prospects and resurfacing worries about debt
 restructuring in struggling euro zone economies.  
 
                
 
 WORLD OIL PRICES
 Brent crude held at $120 on Wednesday, after
 posting steep losses in the previous session, as a
 cut in global oil consumption forecast by the EIA
 and an unexpected surge in U.S. crude stocks
 reinforced fears demand growth may slow.  
                
 
 EMERGING MARKETS
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 AFRICA STOCKS
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 AFRICA FIXED INCOME
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 SOUTH AFRICA CURRENCY, BONDS
 South Africa's rand fell to a 2-1/2 month low
 against the dollar as investors dumped riskier
 emerging market assets for safer-haven currencies
 such as the Japanese yen, owing to a weak global
 economic outlook.  
                
 
 SOUTH AFRICA STOCKS
 South African stocks edged lower tracking a
 downbeat mood in global markets and look set to
 weaken further with investors expected to move
 their money into less risky assets.  
                 
 
 KENYA MARKETS
 Kenya's central bank is seen mopping up liquidity
 from the market to support the shilling        in
 coming days, traders said on Tuesday, when the
 currency held steady against the dollar and
 Safaricom           shares dragged down stocks.  
                
 
 KENYA TEA
 The average price for top Kenyan tea rose slightly
 to $3.38 per kg at this week's sale from $3.36 per
 kg last week, while the volume sold dropped,
 traders said.                 
 
 ZIMBABWE PRESIDENT 
 Zimbabwean officials dismissed reports President
 Robert Mugabe was seriously ill in Singapore,
 saying he was well, on holiday there with his
 family and expected to return home this week.    
                 
 
 SUDAN OIL
 South Sudan said that Sudan had attacked a
 disputed oil-producing border region with
 warplanes and artillery, in the latest flare-up of
 violence that has delayed a summit between the
 former civil war foes.  
                
 
 GHANA RATES
 Ghana's central bank could hike its primary
 lending rate by up to 100 basis points this week
 in a pre-emptive move against mounting
 inflationary pressures, including recent weakness
 of the West African country's currency, analysts
 said.                
 
 IVORY COAST COCOA
 Cocoa arrivals at ports in top grower Ivory Coast
 reached around 1,049,000 tonnes by April 9,
 exporters estimated on Monday, compared with
 1,038,928 tonnes in the same period of the
 previous season.   
                
 
 MALAWI TRANSITION
 Malawi's new President Joyce Banda used her first
 official day in office to purge members of her
 predecessor's government, including the
 information minister suspected of being in a
 high-powered group trying to block her accension
 to office.              
 
 
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