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
*SEYCHELLES - Seychelles' statistics office to release September
inflation data anytime starting Thursday.
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
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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.
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
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
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 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.
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((Compiled by Nairobi Newsroom))
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Keywords: AFRICA FACTORS/