African Markets - Factors to watch on April 16
The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. - - - - - EVENTS: * TANZANIA/ZIMBABWE/RWANDA: Expecting March inflation data. * Thomson Reuters Africa Investment Summit begins in Johannesburg, Lagos and Nairobi. GLOBAL MARKETS Asian shares and the euro fell on Monday as a surge in Spanish government bond yields renewed concerns about the euro zone's sovereign debt crisis and undermined investor appetite for riskier assets. WORLD OIL PRICES Brent crude futures slipped towards $120 on Monday after weak growth numbers from China, the world's No. 2 oil consumer, and a surge in Spanish borrowing costs triggered worries about global economic growth and demand. EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on African stocks, click on AFRICA FIXED INCOME Excess liquidity in Kenya is expected to boost demand at a Treasury bill auction next week, pushing yields lower, while in Uganda yields are expected to remain stable. For news on African fixed income, click on SUDAN CONFLICT South Sudan accused Sudan of bombing a disputed major oil field "to rubble" on Sunday but Khartoum denied that and said it would not negotiate until Juba withdrew all its troops from the same area. SOUTH AFRICA MARKETS South Africa's rand slid against the dollar on Friday as weaker-than-expected Chinese gross domestic product data hit emerging market sentiment, while bonds were flat after a holiday-shortened week. NIGERIA MARKETS Nigerian treasury bill yields fell across the board at an auction on Thursday when a total of 183.65 billion naira ($1.17 billion) worth were issued by the central bank as demand surged to its highest in years. NIGERIA CBANK A sharp fall in oil prices would be a relief for much of the world, but for Nigeria it could spell big trouble. "There will be a very bad day and a lot of gnashing of teeth if the oil price crashes and we haven't saved a thing," Nigeria's central bank governor, Lamido Sanusi, said. NIGERIA BUDGET Nigerian President Goodluck Jonathan signed the 2012 budget into law on Friday, keeping all the key figures the same as approved by parliament last month as expected. KENYA MARKETS * The Kenyan shilling firmed against the dollar on Friday as exporters sold the greenback and banks squared off positions ahead of the weekend, while stocks were flat. * Kenya's energy regulator raised the prices of diesel, petrol and kerosene on Saturday, a move driven by higher international crude oil costs and likely to ramp up inflation in east Africa's biggest economy. KENYA LOAN Kenya has agreed to borrow $600 million from foreign creditors at an interest rate of 7 percent, a senior Treasury official said on Friday. UGANDA OIL French oil company Total plans to spend over $300 million in 2012 on exploration in Uganda where small-scale commercial oil production is expected to begin later this year. MALI CRISIS Mali's interim president is willing to open dialogue with Tuareg-led rebels and Islamists occupying the north of the West African country, but "armed foreign jihadist groups" among them should leave, a Malian envoy and mediator said on Sunday. BISSAU COUP Soldiers in Guinea-Bissau dispersed anti-military demonstrators and closed down private radio stations on Sunday as their commanders put in place a transitional council that effectively consummated their coup. GHANA RATES The rate-setting committee of the Bank of Ghana has decided to raise its prime rate by a further 100 basis points to 14.5 percent, Bank of Ghana Governor Kwesi Amissah-Arthur told a news conference on Friday. BOTSWANA INFLATION Botswana's headline consumer inflation slowed to 8.0 percent year-on-year in March from 8.2 percent in February, the Central Statistics Office said on Friday. On a monthly basis inflation however quickened to 0.5 percent in March from 0.2 percent previously, the statistics office said. MOZAMBIQUE RATES Mozambique's central bank cut its key lending rate by 25 basis points to 13.5 percent to aid economic growth, the bank said in a statement on Friday. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on
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