African Markets - Factors to watch on April 5

Thu Apr 5, 2012 5:13am GMT
 

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Thursday.	
 EVENTS:
 ZAMBIA - Central bank sells 91-, 182- and 364-day Treasury bills at auction.
 SEYCHELLES - March inflation data expected. Year-on-year rate rose for sixth
 month in a row in February to 5.8 percent.
 
 GLOBAL MARKETS
 Asian shares fell on Thursday after a weak Spanish bond sale heightened
 concerns about funding difficulties for weaker euro zone countries, further
 undermining sentiment hurt by fading expectations of more stimulus from the
 U.S. Federal Reserve.                
 
 WORLD OIL PRICES
 Brent crude rose towards $123 a barrel on Thursday after falling sharply in
 the previous session on a big jump in U.S. oil inventories, as investors
 covered short positions ahead of a key U.S. economic report and on concerns
 over disrutpions to Iranian oil supplies.                
 
 MALI COUP
 Mali's military rulers on Wednesday postponed a national convention to end a
 crisis sparked by a coup, which has led to international isolation and allowed
 rebels to seize control of the northern half of the country.                
 
 EMERGING MARKETS
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 AFRICA STOCKS
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 AFRICA FIXED INCOME
 For latest African fixed-income stories.                
 
 SOUTH AFRICA MARKETS
 * South Africa's rand weakened as much as 1.2 percent to a seven-week low
 against the dollar on Wednesday and government bonds also fell, hit by waning
 risk appetite for emerging market assets as recent data points to stuttering
 global growth.                
 * South African stocks lost ground for the first time in four sessions on
 Wednesday, falling more than 2 percent as major miners such as Harmony Gold
          tumbled on a faltering bullion price.                
 
 AFRICA OIL
 * African nations joining the elite club of oil and gas producers should
 invest in education and roads while supporting traditional sectors to avoid
 the "oil curse" trap, the head of the African Development Bank
 said.                   
 *  A worldwide rig shortage is delaying oil drilling in east Africa, which is
 slowing growth and pushing up costs in one of the industry's hottest new
 exploration areas, industry players and officials said.                
 
 NIGERIA MARKETS
 * Nigeria's naira currency          was unchanged against the U.S dollar on
 Wednesday after the central bank increased dollar supply at the bi-weekly
 foreign exchange auction.                
 * Nigeria Dangote Cement's profit rises in 2011.                
 * Nigeria's central bank said on Wednesday it would auction 183.64 billion
 naira ($1.17 billion) in treasury bills at its regular monthly debt auction
 next week.                
 
 KENYA RATES, MARKETS 
 * Kenyan average interbank rate slumped to 12.7 percent on Wednesday from 18.8
 percent a day earlier.        
 * Kenya's central bank held its key lending rate              at 18 percent on
 Wednesday, saying inflation was still above the government's short-term target
 of 9 percent and that private sector credit growth remained too high.
                
 * Weighted average yields fell across the board at Kenya's Treasury bill
 auction on Wednesday, with investors favouring longer dated paper, central
 bank data showed.                
 * The Kenyan shilling        ended a fraction stronger against the dollar on
 Wednesday, with the market closing minutes after the central bank opted to
 keep its key interest rate on hold, in line with analysts' expectations.
                    
 
 UGANDA MARKETS
 * Ugandan 91-day Treasury bill yield rise above 18 percent.                
 * The Uganda shilling        climbed for a third consecutive day against the
 dollar on Wednesday, lifted by offshore investors converting their greenbacks
 to participate in a Treasury bill auction, and depressed corporate demand for
 the U.S. currency.                
 * Stanbic Bank Uganda's 2011 profit leaps 84 percent.                
 
 TANZANIA BONDS, ECONOMY
 * Bank of Tanzania sells 24.2 billion shillings of 7-year Treasury bonds at
 average weighted yield of 14.6289 percent.
 * Tanzania's energy regulator on Wednesday raised the prices of petrol, diesel
 and kerosene in east Africa's second-biggest economy, citing higher
 international oil prices.                
 
 BOTSWANA ECONOMY 
 Botswana's economy contracted 5.8 percent quarter-on-quarter in the fourth
 quarter of last year from 5.5 percent in the previous three months due to a
 sharp reduction in mining output in the world's biggest diamond
 producer.               
 
 MAURITIUS BONDS
 Mauritius sells $48.4 million worth of 3-yr Treasury notes at an average
 weighted yield of 5.14 percent.                
 
 MALAWI BILLS
 Malawi 3-month Treasury bill yields fall to 6.3 percent.                
 
 DJIBOUTI ECONOMY
 Djibouti's economy will expand 4.8 percent this year from 4.4 percent in 2011,
 driven by an acceleration of port activities, construction and services, the
 International Monetary Fund said on Wednesday.                 
 
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