GO
Loading...

African Markets - Factors to watch on Oct 1

Monday, 1 Oct 2012 | 1:03 AM ET

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

For the top emerging markets news, double click on

AFRICA STOCKS

For the latest news on African stocks, click on

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.

For the latest precious metals report click on

For the latest base metals report click on

For the latest crude oil report click on

((Compiled by Nairobi Newsroom))

((Email: nairobi.newsroom@reuters.com; tel: +254 20 222 4717))

Keywords: AFRICA FACTORS/