African Markets - Factors to watch on April 16

Mon Apr 16, 2012 5:36am GMT
 

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Monday.	
    - - - - -	
 EVENTS:
 * TANZANIA/ZIMBABWE/RWANDA: Expecting March
 inflation data.
 * Thomson Reuters Africa Investment Summit begins
 in Johannesburg, Lagos and Nairobi.
 
 GLOBAL MARKETS
 Asian shares and the euro fell on Monday as a
 surge in Spanish government bond yields renewed
 concerns about the euro zone's sovereign debt
 crisis and undermined investor appetite for
 riskier assets.                
 
 WORLD OIL PRICES
 Brent crude futures slipped towards $120 on Monday
 after weak growth numbers from China, the world's
 No. 2 oil consumer, and a surge in Spanish
 borrowing costs triggered worries about global
 economic growth and demand.                 
 
 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
 Excess liquidity in Kenya is expected to boost
 demand at a Treasury bill auction next week,
 pushing yields lower, while in Uganda yields are
 expected to remain stable.                
 For news on African fixed income, click on
                
 
 SUDAN CONFLICT
 South Sudan accused Sudan of bombing a disputed
 major oil field "to rubble" on Sunday but Khartoum
 denied that and said it would not negotiate until
 Juba withdrew all its troops from the same area.
                  
 
 SOUTH AFRICA MARKETS 
 South Africa's rand slid against the dollar on
 Friday as weaker-than-expected Chinese gross
 domestic product data hit emerging market
 sentiment, while bonds were flat after a
 holiday-shortened week.                  
 
 NIGERIA MARKETS
 Nigerian treasury bill yields fell across the
 board at an auction on Thursday when a total of
 183.65 billion naira ($1.17 billion) worth were
 issued by the central bank as demand surged to its
 highest in years.                   
 
 NIGERIA CBANK
 A sharp fall in oil prices would be a relief for
 much of the world, but for Nigeria it could spell
 big trouble.  
     "There will be a very bad day and a lot of
 gnashing of teeth if the oil price crashes and we
 haven't saved a thing," Nigeria's central bank
 governor, Lamido Sanusi, said.                
 
 NIGERIA BUDGET
 Nigerian President Goodluck Jonathan signed the
 2012 budget into law on Friday, keeping all the
 key figures the same as approved by parliament
 last month as expected.                 
 
 KENYA MARKETS
 * The Kenyan shilling        firmed against the
 dollar on Friday as exporters sold the greenback
 and banks squared off positions ahead of the
 weekend, while stocks were flat.                
 * Kenya's energy regulator raised the prices of
 diesel, petrol and kerosene on Saturday, a move
 driven by higher international crude oil costs and
 likely to ramp up inflation in east Africa's
 biggest economy.                
 
 KENYA LOAN
 Kenya has agreed to borrow $600 million from
 foreign creditors at an interest rate of 7
 percent, a senior Treasury official said on
 Friday.                      
 
 UGANDA OIL
 French oil company Total           plans to spend
 over $300 million in 2012 on exploration in Uganda
 where small-scale commercial oil production is
 expected to begin later this year.                
 
 
 MALI CRISIS 
 Mali's interim president is willing to open
 dialogue with Tuareg-led rebels and Islamists
 occupying the north of the West African country,
 but "armed foreign jihadist groups" among them
 should leave, a Malian envoy and mediator said on
 Sunday.                
 
 BISSAU COUP
 Soldiers in Guinea-Bissau dispersed anti-military
 demonstrators and closed down private radio
 stations on Sunday as their commanders put in
 place a transitional council that effectively
 consummated their coup.                  
 
 GHANA RATES
 The rate-setting committee of the Bank of Ghana
 has decided to raise its prime rate by a further
 100 basis points to 14.5 percent, Bank of Ghana
 Governor Kwesi Amissah-Arthur told a news
 conference on Friday.  
 
 BOTSWANA INFLATION
 Botswana's headline consumer inflation slowed to
 8.0 percent year-on-year in March from 8.2 percent
 in February, the Central Statistics Office said on
 Friday.  
    On a monthly basis inflation however quickened
 to 0.5 percent in March from 0.2 percent
 previously, the statistics office said.
                 
 
 MOZAMBIQUE RATES
 Mozambique's central bank cut its key lending rate
 by 25 basis points to 13.5 percent to aid economic
 growth, the bank said in a statement on Friday.
 
 
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