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


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 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.


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


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

Share index

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

for the

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, 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'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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