African Markets - Factors to watch on Oct 3
NAIROBI, Oct 3 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.
- - - - - EVENTS:
*IVORY COAST - Ivory Coast's Finance Minister to present the government's
proposed 2013 budget to parliament.
*TANZANIA -Bank of Tanzania to auction a 10-year fixed rate Treasury bond
worth 43 billion shillings.
*KENYA - The Nairobi Securities Exchange and FTSE International launch the
FTSE NSE Treasury Bond Index, which will allow investors to use an
independent benchmark to measure the performance of their bond portfolios.
*KENYA - Central Bank of Kenya auctions 364-day and 182-day Treasury bills
worth a total 10 billion shillings.
The dollar firmed and most riskier assets fell on Wednesday as data from
China and Australia added to gloom about the global economic outlook, which
already was deepened by uncertainty about the timing of Spain's request for
a bailout. WORLD OIL PRICES
Brent crude futures slipped towards $111 per barrel on Wednesday, hurt by
persistent concerns on global growth and oil demand, while Europe's
festering debt crisis added to uncertainty.
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SOUTH AFRICA MARKETS
South African stocks ended flat on Tuesday, as sharp losses in strike-hit
mining companies such as Anglo American Platinum
offset big gains by Mr Price and other retailers.
Government bonds rose in a somewhat delayed reaction to the country's
inclusion in Citi's World Government Bond Index, which analysts had
predicted would lead to enthusiastic foreign buying.
AFRICA CURRENCIES OUTLOOK
Falling oil prices and a gloomy outlook for the global economy will put
Nigeria's naira under pressure in the coming months, while sinking interest
rates will knock Kenya's shilling, a Reuters poll showed on
Tuesday. NIGERIA SECURITY
Gunmen shot dead at least 26 students in an attack overnight on their
college residence in northeast Nigeria, a college spokesman said on
Tuesday. KENYA MARKETS The Kenyan shilling
firmed against the dollar on Tuesday, boosted by
tea sales from the country's weekly auction and the central bank's tight
monetary measures, while stocks fell for the third straight session.
The shilling closed at 84.80/85.00 to the dollar, firmer than Monday's
close of 85.20/40, while the Nairobi Securities Exchange's benchmark NSE-20
fell 0.5 percent to 3,945.25 points, dragged down by a
retail investor sell-off. UGANDA BANK RATE
Uganda's central bank slashed its key lending rate
fifth straight month on Tuesday to 13.0 percent from 15.0 percent, but the
bank's governor said further cuts were likely to be small after a dramatic
fall in inflation. TANZANIA ECONOMY
Tanzania needs to limit power outages if it wants to maintain buoyant
growth this year and next, the International Monetary Fund mission to
Tanzania said on Tuesday, urging the government to come up with a viable
plan for the sector. SOMALIA CONFLICT
African Union troops and tanks occupied al Shabaab's former stronghold of
Kismayu on Tuesday, but the Somali Islamist militants gave notice of their
intention to fight back, saying they detonated a bomb in the port city.
SOMALIA PETROLEUM EXPLORATION
Somalia, hoping to share in East Africa's oil and gas boom, has invited
back international oil companies that held exploration licences before
civil war broke out two decades ago, an adviser to the government said.
IVORY COAST ECONOMY
Ivory Coast's government will propose a 17 percent increase in the budget
for 2013, expecting robust economic growth, spokesman Bruno Kone said on
Also, the International Monetary Fund on Tuesday raised its 2012
economic growth forecast for Ivory Coast to 8.6 percent and said the
country, a top cocoa producer, was on track for the release of another $100
million in IMF loans. CAMEROON PETROLEUM U.K. energy firm Bowleven
said on Tuesday that production from its
Etinde oil project in Cameroon is expected to start up in 2015, not 2013.
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((Compiled by Nairobi Newsroom))
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Keywords: AFRICA FACTORS/