African Markets - Factors to watch on June 24
June 24 |
June 24 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.
- - - - -
EVENTS
* Mauritius - the Bank of Mauritius auctions 91-day, 182-day and 364-day Treasury bills worth 600 million rupees ($21.05 million).
* Kenya's - the central bank to release weekly forex reserve KEFXR=ECI table.
GLOBAL MARKETS
Asian equities are poised for their first weekly gains in nine weeks and the euro advanced from early lows on Friday, though the currency's gains could be short lived as many see Greece's deal with international lenders as a short-term fix for a long-term crisis. [MKTS/GLOB]
GREECE DEBT CRISIS
Greece won the consent of international lenders on Thursday for a five-year austerity plan intended to avoid looming bankruptcy and its prime minister pledged to push radical economic reforms through parliament. [ID:nL6E7HN278]
GLOBAL OIL SUPPLY
Industrialized nations agreed to release oil from emergency stockpiles for the third time in history, sending crude prices tumbling and providing some support to a faltering global economy. [ID:nLDE75M1BR]
LIBYA WAR
NATO's chief on Thursday dismissed a call from Italy for a suspension of hostilities in Libya and tried to reassure wavering members of the Western coalition that Libyan leader Muammar Gaddafi can be beaten. [ID:nLDE75L21P]
SUDAN SECURITY
The United States said on Thursday it submitted a draft resolution to the U.N. Security Council that would authorize the deployment of 4,200 Ethiopian troops to Sudan's disputed Abyei region. [ID:nN1E75M1CH]
AFRICA CURRENCY OUTLOOK
The Kenyan and Ugandan shillings are likely to remain under pressure against the dollar next week after falling through a series of record lows that their central banks blamed on currency speculators. [ID:nLDE75M18Y]
AFRICA MONEY
Like reformed alcoholics slipping off the wagon, frontier African economies are sliding back into bad old ways, with yawning deficits, double-digit inflation and plunging currencies. [ID:nLDE75J17E]
EMERGING MARKETS
For the top emerging markets news, double click on [nTOPEMRG]
AFRICA STOCKS
For the latest news on African stocks, click on [.J]
AFRICA FIXED INCOME
For news on African fixed income, click on [ID:nJ8E7FF040]
SOUTH AFRICA MARKETS
South African markets fell more than 1.5 percent on Thursday as investors dumped high risk assets in favour of the dollar on worries that the global economic recovery may be stalling. [ID:nLDE6AI1F4]
NIGERIA INVESTMENT
Nigeria will lift a requirement that foreign investors hold government debt for at least one year on July 1 in a bid to attract new investment and help stabilise the currency, the central bank said on Thursday. [ID:nLDE75M1JE]
NIGERIA BANK
Nigeria's Union Bank (UBN.LG) said on Thursday it was on track to recapitalise ahead of the central bank's September deadline and would soon sign the final agreements with its core investors. [ID:nLDE75M1MF]
KENYA C.BANK
Kenya's central bank has taken unspecified action against some commercial banks to curb speculative positions versus the currency of east Africa's largest economy, its governor said on Thursday. [ID:nLDE75M194]
KENYA MARKETS
The Kenyan shilling closed firmer against the dollar on Thursday, and analysts said it could extend gains in coming days after the central bank said it was taking action against speculative behaviour by major banks. [ID:nLDE75M1D6]
KENYA TBILLS
The average yield on Kenya's 91-day Treasury bills KE3MT=RR slipped for a second straight week on Thursday and some traders predicted further falls. [ID:nL6E7HN28M]
KENYA MPS AND TAXES
Kenyan MPs will not pay back-dated taxes demanded by the government and some could block budget allocations to state agencies if they are forced to pay, legislators said on Thursday. [ID:nLDE75M0RT]
UGANDA C.BANK RATE
Uganda will shift its monetary policy to target inflation rather than money supply growth and will launch a central bank interest rate in July, a top bank official said on Thursday. [ID:nLDE75M0Y3]
RWANDA SECURITY
Rwandan President Paul Kagame said on Thursday the central African country was not under any security threat, a day after police arrested suspected terrorists allegedly linked to exiled generals. [ID:nLDE75M1NV]
BOTSWANA LOAN TO ZIMBABWE
Botswana has committed 500 million pula ($75.98 million) in credit lines to neighbouring Zimbabwe to help that country's economic recovery, the finance ministry said on Thursday. [ID:nJ8E7G301O]
ZIMBABWE DIAMONDS
Zimbabwe has been given the green light to sell diamonds from its Marange diamond fields by the industry's leading certification system, but the decision did not have the backing of all members. [ID:nLDE75M1RS]
SOMALIA SECURITY
Unidentified aircraft attacked an insurgent base near the southern Somali port of Kismayu late on Thursday, wounding a number of fighters, al Shabaab officials and residents said. [ID:nLDE75M1UG]
SOMALIA SECURITY
Somalia's acting Prime Minister Abdiweli Mohamed Ali was given the job full-time on Thursday by President Sheikh Sharif Ahmed and will form a government whose goal will be to quash a rebellion. [ID:nLDE75M0VE]
For the latest precious metals report click on [GOL/]
For the latest base metals report click on [MET/L]
For the latest crude oil report click on [O/L]
($1=90.85 Kenyan Shilling)
($1=2467.0 Ugandan Shilling)
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