African Markets - Factors to watch on May 3
The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. - - - - - EVENTS: KENYA - The central bank meets to set its lending rate. It has left it unchanged at 18 percent since December, although analysts say easing is imminent after inflation moderated. * The central bank of Kenya will also auction 2 billion shillings in 91-day Treasury bills. ZAMBIA - Bank of Zambia auctions 45,000 kwacha worth of 91-day T-bills, 50,000 kwacha in 182-day T-bills, 55,000 kwacha in 273-day T-bills and 100,000 worth of 364-day T-bills. MAURITIUS - Bank of Mauritius auctions 273-day Treasury bills worth 400 million rupees. SENEGAL - Heads of state from regional bloc ECOWAS meet to discuss a coup in Guinea-Bissau, and a counter-coup/transition in Mali. RWANDA - President Paul Kagame scheduled to hold a press conference in the morning hours. GLOBAL MARKETS Asian shares slipped on Thursday and the euro languished near a 2-week low after disappointing economic data from both sides of the Atlantic rekindled concerns about the strength of global growth. WORLD OIL PRICES Brent crude steadied above $118 a barrel on Thursday, reflecting caution among investors ahead of a key U.S. employment report after dismal data from the United States to Europe renewed doubts about the state of the global economy. 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 For news on African fixed income, click on SOUTH AFRICA CURRENCY, BONDS South African government bonds rallied and yields fell on strong demand from foreign accounts but the rand weakened against the dollar, tracking a softer euro as data pointed to weak growth in that region. SOUTH AFRICA SHARES South Africa's broad All-share index closed at a record high, as improving Chinese manufacturing data boosted appetite for Johannesburg-listed resource firms such as BHP Billiton . NIGERIA CURRENCY The Nigerian naira was stable on both the interbank market and at the official window as sales of about $194 million by two multinational oil companies to some lenders helped counter surging demand for dollars among importers. NIGERIA TREASURY BILLS Nigeria plans to issue 145.05 billion naira ($922.12 million) in treasury bills ranging from 3-month to 1-year maturities at its regular monthly debt auction next week, the central bank said. NIGERIA SECURITY Islamist group Boko Haram released a video late on Tuesday celebrating its bombing of a Nigerian newspaper and warning of more attacks on local and foreign media if they published reports that were biased to the sect or insulting to Islam. KENYA MARKETS The Kenyan shilling slipped against the dollar as some investors bet on a possible interest rate cut after a fall in inflation in April, while the benchmark share index edged down. KENYA TREASURY BILLS The average yield on Kenyan 182-day Treasury bills plunged nearly two percentage points at auction in a heavily oversubscribed sale after inflation slowed by more than expected in April. KENYA OIL The Kenyan government must share revenues from its newfound oil reserves with the communities in its impoverished north to avoid armed insurrections, the minister for the region said. KENYA REMITTANCES Kenyans abroad sent home $106.2 million in March, the highest monthly amount since the central bank started releasing data on the flows in 2006, and 48 percent up from the same month last year. KENYA BOND-BUYING For the average Kenyan, buying government debt could soon be as simple as paying for groceries at the supermarket: that is, with the tap of a few buttons on their mobile phone. UGANDA RATES Uganda's central bank held interest rates at 21 percent and put off any immediate easing, citing jumps in food prices, but promised it would make a fresh attempt to cut borrowing costs later in 2012. GHANA CURRENCY Ghana's government expects the local cedi currency to stabilise by mid-May as its latest measures, including the re-introduction of short-term bills, kick-in, Finance Minister Kwabena Duffuor told Reuters. SOUTH SUDAN-SUDAN CONFLICT The U.N. Security Council threatened Sudan and South Sudan with sanctions if the former civil war foes fail to halt an escalating conflict and resume talks within two weeks on a string of disputes over oil revenues and border demarcation. * Sudan said the Heglig oilfield, scene of intense fighting with South Sudan last month, has been repaired and has started pumping the oil that is the lifeblood of the north's economy. MALI COUNTER-COUP Gunfire rang out in Mali's capital Bamako in the third day of clashes between the military junta and soldiers loyal to the ousted president, forcing residents to flee. 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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