African Markets - Factors to watch on Oct 1
NAIROBI, Oct 1 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.
- - - - - EVENTS
*NAIROBI - Industry regulator Tea Board of Kenya releases performance report
for January to August 2012. GLOBAL MARKETS
The euro, oil and Asian shares fell on Monday, weighed down by uncertainty
about Spain's bailout and concerns over slumping demand due to a slowdown in
global growth, with data from Japan to China underscoring sluggish business
activity. WORLD OIL PRICES
Brent crude fell below $112 per barrel on Monday, reflecting investor concerns
a shaky global economy may hurt oil demand following fresh evidence of
weakness in China and Japan as well as persistent worries about the
debt-saddled euro zone. EMERGING MARKETS
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AFRICA STOCKS
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AFRICA DEBT
Nigerian bonds are expected to extend a six-week rally as the country's debt
is included from Monday in a JP Morgan government bond index, while Kenyan
yields could inch up as investors shy away from its bond market.
SUDAN, SOUTH SUDAN PEACE DEAL
Sudan and South Sudan, fleshing out the details of their new peace deals, have
agreed to cooperate on banking and monetary policy, which could help boost
trade after decades of civil war.
SOUTH AFRICA MARKETS
South Africa's rand weakened against the dollar on Friday, weighed down by a
wider-than-expected trade deficit figure and a subdued sentiment towards
riskier assets, although it found some support from late-session bond buying.
Also, share prices ended on a positive note on Friday after chalking up a
6.3 percent rise in the three months to end-September, their fourth straight
quarterly gain. NIGERIA MARKETS
Nigerian interbank lending rates eased marginally this week to an average of
10.58 percent, from 10.83 percent last week, as market liquidity was boosted
by repayment of large funds in matured treasury bills, traders said.
NIGERIA PETROLEUM Shell's
Nigerian unit shut its Bonny oil pipeline and deferred
150,000 barrels per day of production on Sunday after oil thieves caused a
fire, the company said. KENYA MARKETS The Kenyan shilling
ended steady against the dollar on Friday, but
traders said it could come under pressure next month with yields on government
debt expected to fall lower, while stocks edged down.
The shilling closed at 85.20/40 versus the dollar, barely changed from
Thursday's close of 85.25/45, while the main NSE-20 Share Index
shed
0.2 percent on Friday to end trading at 3,972.03 points.
KENYA ECONOMY
Kenya's economic growth slowed sharply in the second quarter, marring better
news on inflation which fell faster than expected in September, and
pressurising policymakers to spur the economy.
KENYA SECURITY
Two police officers were shot dead in Kenya on Sunday in the northern town of
Garissa close to the border with Somalia, police said, hours after a child was
killed in a grenade attack on a church in Nairobi.
MAURITIUS ECONOMY
Mauritius revised down its economic growth forecast for 2012 for the third
time this year to 3.2 percent from 3.6 percent in June, the statistics office
said on Friday, citing a bleaker outlook for key sectors of the economy.
TANZANIA-ECONOMY
Tanzania's headline inflation is expected to continue its downward trend,
reaching 10 percent by year-end and falling into single digits by the end of
the financial year in mid-2013, central bank governor Benno Ndulu said on
Friday. UGANDA INFLATION
Consumer prices in Uganda rose 0.7 percent in September from the previous
month but the year-on-year rate of inflation
plummeted to 5.4
percent from 11.9 percent a month earlier, the statistics office said on
Friday.
DEMOCRATIC REPUBLIC OF CONGO ECONOMY
Democratic Republic of Congo's economy will grow by 8.2 percent in 2013 but
rising debt levels and continued poor governance in the extractive industries
sector will weigh on performance, the International Monetary Fund said.
ZAMBIA REPO RATE
The Bank of Zambia kept its key benchmark interest rate unchanged at 9
percent, it said in a statement on Friday.
ANGOLA CABINET
Angola's President Jose Eduardo dos Santos on Friday unveiled proposals for
his cabinet following his election win last month, keeping his economic policy
team in their posts in the government of Africa's second-largest oil
producer.
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((Compiled by Nairobi Newsroom))
((Email: nairobi.newsroom@reuters.com; tel: +254 20 222 4717))
Keywords: AFRICA FACTORS/