African Markets - Factors to watch on Sept 3

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Sept 3 | Fri Sep 3, 2010 1:39am EDT

Sept 3 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

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EVENTS

PORT LOUIS - Mauritius to auction Treasury bills of all maturities. Last week, the yield on the 91-day tbill edged down further to 2.38 percent.

GLOBAL MARKETS Asian stocks squeezed higher on Friday but gains were tentative ahead of all-important U.S. jobs data that tends to swing markets. [ID:nSGE682029]

AFRICAN MARKETS

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AFRICA CURRENCIES

The Nigerian naira, Kenyan shilling and Zambian kwacha are expected to strengthen against the dollar in the next week to Thursday, while Ghana's cedi and Uganda's and Tanzania's shillings are expected to be stable, traders said. [ID:nLDE6811NY]

SOUTH AFRICA MARKETS

South Africa's rand rallied more than one percent to a more than three-week high against the dollar on Thursday, largely driven by an uptick in global risk appetite that also boosted other emerging market currencies. [ID:nLDE6811VU]

NIGERIA MARKETS

Banking and petroleum firms led Nigerian stocks lower, falling for the third day this week, as traders said the outlook had weakened due to the slow process of recapitalising lenders rescued in last year's bailout.

KENYA MARKETS

The Nairobi Stock Exchange, the NSE-20 Share Index .NSE20 was up 20.28 points to close at 4,466.96 on Thursday, breaking nine sessions of losses. [ID:nLDE6811IB]

KENYA DEBT

The cut-off rate for Kenya's 182-day Treasury bill inched up to 2.199 percent at an auction on Thursday, below the 2.38 percent forecast in a survey of fixed income traders. [ID:nLDE6811QI]

GHANA DEBT

The yield on Ghana's 7-day Treasury bill fell to 11.95 percent for its Aug 25 auction, the Bank of Ghana said on Thursday.

EAST AFRICA ENERGY

Oil explorer Tullow Oil (TLW.L) is buying 50 percent stakes in six exploration licences in Kenya and Ethiopia as the hunt for oil in East Africa gathers pace. [ID:nLDE68106X]

IVORY COAST POLITICS

Ivory Coast's electoral commission said on Thursday it had produced a final voter list for the first time, raising the chance that an election which has been delayed six times in five years might go ahead. [ID:nCOC276460] [ID:nCOC281668]

ETHIOPIA ENERGY

Ethiopia on Thursday rejected criticism of its massive hydropower dam projects and vowed to push ahead with plans to boost its power generating ability from 2,000 MW to 10,000 MW within five years. [ID:nLDE6811O5]

MAURITIUS ECONOMY

Mauritius needs to raise some 225 billion rupees ($7.31 billion) over the next 10 years to finance its public infrastructure development, Finance Minister Pravind Jugnauth said on Thursday. [ID:nLDE6810VW]

MAURITIUS BOURSE

The Mauritius Stock Exchange would aim to admit 10 to 15 new companies to the exchange by the end of 2011, Chief Executive Sunil Benimadhu said on Thursday, ahead of the upcoming bourse results. [ID:nLDE6810U3]

ANGOLA PRICES

Angolan taxis will raise fares in the coming weeks due to a sharp rise in fuel prices, a move that could trigger protests from impoverished Angolans who rely on thousands of 14-seater taxi vans to go to work each day. [ID:nLDE68113Z]

MOZAMBIQUE PROTEST

Mozambique's government deployed troops to clear barricades in the capital as angry protesters blocked roads and looted shops on Thursday, the second day of riots caused by soaring bread prices. [ID:LDE68118G]

EMERGING MARKETS

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COMMODITIES

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