African Markets - Factors to watch on Oct 12
NAIROBI, Oct 12 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.
- - - - - EVENTS
MAURITIUS - Bank of Mauritius to auction 364-day Treasury bills worth 500
million rupees GLOBAL MARKETS
Asian stocks and the euro steadied on Friday, but were on course for a
losing week as worries about weak corporate earnings and slowing global
economic growth limit the appeal of riskier assets.
WORLD OIL PRICES
Brent crude held above $115 a barrel on Friday, trading near four-week
highs and on course for its biggest weekly gain in two months, supported
by tensions between Turkey and Syria, lower output at North Sea oilfields
and upbeat U.S. data. SOUTH AFRICA STRIKES
Striking gold miners in South Africa have rejected the industry's latest
wage offer, a trade union said on Thursday, dimming hopes that strikes
that have led to dozens of deaths and paralysed the sector could end soon.
Corruption in Africa is no different to corruption anywhere else on the
planet, according to a new book by the former chair of graft watchdog
Transparency International. EMERGING MARKETS
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SOUTH AFRICA MARKETS
* South Africa's rand edged up against the dollar on Thursday on tentative
hopes of a resolution to the strikes that have wreaked havoc particularly
in the key mining sector in the past two months.
* South African Finance Minister Pravin Gordhan said on Wednesday labour
strikes in the country's mainstay mining sector have hurt the rand and
expressed confidence the currency will bounce back.
* Nigeria sold 171.83 billion naira ($1.09 bln) in treasury bills with
maturities ranging from three months to 1-year, the central bank said on
Thursday, and yields were up 30 basis points compared with rates at the
* Nigeria said it plans to issue 75 billion naira ($477.10 million) in
with maturities of between five and 10 years at its
regular auction on Oct. 17, the Debt Management Office (DMO) said on
Thursday. KENYA MARKETS * The Kenyan shilling
weakened on Thursday, weighed down by
importers in the telecoms and energy sectors buying the dollar, while the
share index was lifted gains in major stocks.
* The weighted average yield on benchmark Kenyan 91-day Treasury bills
rose for the fourth straight week to 8.962 percent at the
auction on Thursday, from 8.439 percent last week, the central bank said.
ZAMBIA MINING Brazil's Vale SA
said it has begun producing copper concentrate
at its Lubambe mine in Zambia.
NAMIBIA MINING French energy group Areva
said on Thursday it had delayed the
start of its $1 billion Trekkopje uranium mine in Namibia until market
conditions improve. [ID;nL6E8LBL4C]
Angola's annual consumer inflation slowed to 9.65 percent year-on-year in
September from 9.87 percent in August, the National Statistics Institute
(INE) said on Thursday. TANZANIA DEBT
The weighted average yield on Tanzania's 91-day Treasury bills rose to
12.59 percent at auction on Wednesday, from 12.45 percent at the last sale
two weeks ago, the central bank said.
The weighted average yield on Mauritius' 182-day Treasury bill fell to
3.18 percent at auction on Thursday from 3.27 percent previously, the
central bank said.
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((Compiled by Nairobi Newsroom))
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Keywords: AFRICA FACTORS/