GO
Loading...

African Markets - Factors to watch on Oct 4

NAIROBI, Oct 4 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.

- - - - - EVENTS:

*NIGERIA - Nigeria's cabinet expected to deliver the government's 2013

budget to parliament. Ministers agreed in August to increase spending by

5 percent but reduce the fiscal deficit next year.

*ZAMBIA - Bank of Zambia auctions Treasury bills of various maturities

worth a total 350 billion kwachas.

MAURITIUS - Bank of Mauritius auctions 273-day Treasury bills worth a

total 400 million rupees.

*KENYA - Central Bank of Kenya auctions 91-day Treasury bills worth 4

billion shillings.

*SEYCHELLES - Seychelles' statistics office to release September

inflation data anytime starting Thursday.

GLOBAL MARKETS

Asian shares steadied on Thursday while the dollar index stayed under

pressure, leaving investors who worry about global growth awaiting fresh

U.S. economic data and a European Central Bank policy meeting later in

the day. WORLD OIL PRICES

Brent futures steadied above $108 a barrel on Thursday after a sharp drop

in the previous session, with investors waiting for a European Central

Bank policy meeting and critical jobs data out of the United States this

week for more trading cues. EMERGING MARKETS

For the top emerging markets news, double click on

AFRICA STOCKS

For the latest news on African stocks, click on

SOUTH AFRICA MARKETS

South Africa's rand weakened to a one-month low on Wednesday as commodity

currencies came under pressure and the positive effects of inclusion in

an influential bond index began to wear off.

Stocks ended slightly lower on Wednesday, falling for a second day,

with Kumba Iron Ore

tumbling nearly 5 percent as wildcat strikes

plaguing the mining industry spread to one of its mines.

NIGERIA MARKETS

The Nigerian naira firmed to its strongest in two weeks against the U.S

dollar on the interbank market on Wednesday, supported by dollar sales by

a unit of Chevron , traders said. NIGERIA PETROLEUM

Indian state-run Bharat Petroleum Corp

has signed a deal with Chevron

to buy 10,000 barrels per day (bpd) Nigerian crude in the

year ending March 31, 2013, two sources familiar with the deal said on

Wednesday. KENYA MARKETS The Kenyan shilling

was steady against the dollar on Wednesday

helped by greenback inflows from horticulture - a top foreign exchange

earner in the country, while stocks broke a three-day losing streak.

The shilling closed at 84.85/95, barely changed from Tuesday's close

of 84.80/85.00, while the Nairobi Securities Exchange's main NSE-20 Share

index

rose 0.3 percent to points, 3,958.62 points.

KENYA BOND INDEX

Kenya's Nairobi Securities Exchange (NSE) has launched a new government

bonds index that will help investors to better measure the performance of

their portfolios. EAST AFRICA EXPLORATION

Pan-African oil & gas explorer Simba Energy

is to drill its first

well in northeast Kenya in 2013, a company executive said on Wednesday,

the latest effort by an energy firm to find oil in the east African

nation. TANZANIA ECONOMY

Tanzania's economic growth rate remained below levels targeted by the

government in the second quarter, with slumps in the mining and

electricity sectors offsetting a strong performance by transport and

communications.

TANZANIA- MALAWI BORDER DISPUTE

Malawi has cut off dialogue with Tanzania in a long-time territorial

dispute concerning Lake Malawi, thought to sit over highly coveted oil

and gas reserves. IVORY COAST COCOA

Cocoa output from the world's top grower Ivory Coast slipped by a

smaller-than-expected 2.3 percent in the 2011-12 season as a decline in

smuggling masked weather-related production losses, sector regulator CCC

said on Wednesday. CAMEROON AIRLINE

Cameroon's government has agreed to buy two Boeing 787 Dreamliners for

218 billion CFA francs ($428.77 million) for its new national carrier

Camair-Co. ZAMBIA ECONOMY

Zambia's economy is expected to grow by grow by 7.7 percent in 2012 from

6.6 percent last year, partly boosted by reforms in the southern African

state, Reserve Bank Governor Michael Gondwe said on Wednesday.

MALAWI ECONOMY

Malawi will cut its forecast for economic growth of 4.3 percent this year

due to contraction in some major sectors, Finance Minister Ken Lipenga

said on Wednesday.

REGIONAL FUNDS TRANSFER SYSTEM

Traders from select sub-Saharan Africa countries will see their money

transfer costs slashed by the introduction of a new regional payment

system, Rwanda's central bank governor said on Wednesday.

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/