African Markets - Factors to watch on Oct 10

NAIROBI, Oct 10 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

- - - - - EVENTS

NIGERIA - President Goodluck Jonathan is expected to deliver the 2013

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

five percent but reduce the fiscal deficit in next year.

KENYA - Central Bank of Kenya auctions 182-day Treasury bills. The

weighted average yield on the 6-month paper rose to 10.194 percent last

week from 9.888 percent previously.

GHANA - September inflation data due to be released. The West African oil,

cocoa and gold producer has managed to keep inflation under 10 percent

despite rapid economic growth, but worries persist that inflation could

shoot higher if authorities fail to stem losses in the local cedi


MAURITIUS - Bank of Mauritius to sell $45.5 million worth of a new

benchmark 3-year Treasury bond carrying a coupon of 4.90 percent.

BOTSWANA - Botswana's rate setting committee meets. The central bank has

left its benchmark lending rate at 9.5 percent for the past year.

Inflation data also due out. GLOBAL MARKETS

Asian shares fell on Wednesday, with Japan's stocks sliding more than 1.5

percent to a two-month low, and the safe-haven dollar firmed on concerns

that the corporate results season will reveal weaker earnings in the face

of flagging global economic growth.


Brent crude slipped near $114 on Wednesday after a jump of 2 percent the

previous day, with a cloudy economic outlook offsetting fears about

disruptions to Middle East oil supply as a conflict between Turkey and


Some of South Africa's striking truckers have agreed to return to work on

Wednesday, easing pressure on Africa's biggest economy where two weeks of

labour unrest in the transport sector have hit supplies of fuel, cash and

consumer goods.

But disputes in the mining sector escalated after Gold One

fired the majority of its 1,900 workers at its Ezulwini

operation, paralysed since last week by a wildcat strike. Atlatsa


said it had also fired 2,161 miners for an illegal


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* South Africa's rand firmed more than 1.4 percent against the dollar on

Tuesday, on track for its first daily gain in five trading sessions, as

investors responded to news that some of the thousands of striking

truckers are returning to work.

* South African stocks extended losses on Tuesday as a slightly firmer

local currency

helped reverse the gains made by so-called rand

hedges like British American Tobacco

. NIGERIA MARKETS Nigeria's Diamond Bank

rose the maximum 10 percent allowed on

the bourse on Tuesday, after posting a pretax profit of 23.2 billion naira

($147.65 million) for the first nine months of the year, compared with a

loss of 6.9 billion naira in the same period a year ago.


Nigeria's attorney general said on Tuesday the country would not appeal an

international ruling that handed the oil-rich Bakassi peninsula to its

neighbour Cameroon ten years ago, despite calls from the Senate to re-open

the dispute. KENYA MARKETS The Kenyan shilling

held steady against the dollar on Tuesday and

traders said it could firm in coming days on greenback inflows from tea


Kenyan President Mwai Kibaki on Tuesday blocked $110,000 end-of-term

bonuses members of parliament awarded themselves after protests and a

public outcry at a time when the state has raised taxes to plug a hole in

its finances. DRCONGO CONFLICT

Uganda is trying to broker direct peace talks between rebels who have

seized parts of eastern Congo and the country's government, but Kinshasa

officials so far have refused to negotiate, rebel and Ugandan government

sources said on Tuesday. BOTSWANA ECONOMY

Botswana's economy grew by 1.2 percent quarter-on-quarter in the second

quarter of this year after rising by a similar margin in the first

quarter, data from the Central Statistics Office showed on Tuesday.


The economy of the Indian Ocean island of Comoros could grow by up to 3.5

percent next year if the government implements financial and fiscal

reforms, the International Monetary Fund said on Tuesday.

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((Compiled by Nairobi Newsroom))

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