African Markets - Factors to watch on May 4
The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. - - - - - EVENTS: RWANDA - The central bank sets its repo rate. The bank held its key lending rate at 7 percent at its last meeting in March because the inflation rate in the central African economy remained moderate. MAURITIUS - Bank of Mauritius auctions 364-day Treasury bills worth 500 million rupees. GLOBAL MARKETS Asian shares fell for a second successive day on Friday as another batch of lacklustre U.S. data stoked concerns that the recovery in the world's biggest economy is faltering. WORLD OIL PRICES Brent crude held above $116 on Friday ahead of a key U.S. payrolls report, with the benchmark poised for its steepest weekly fall since December due to concerns over the health of the global economy and easing supply disruption fears. EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on African stocks, click on AFRICA CURRENCIES The Ghanaian cedi's four-month decline could soon come to an end as measures introduced by the central bank begin to take effect, the west African nation's finance minister told Reuters this week. AFRICA FIXED INCOME For news on African fixed income, click on AFRICA FDI Africa received its largest ever share of global foreign direct investment in 2011, but potential investors without a business presence in the continent still view it as "the least attractive investment destination in the world", Ernst & Young said. SOUTH AFRICA CURRENCY, BONDS Yields on South African government bonds fell as prices were buoyed by offshore buying, helping to support the local rand currency in an otherwise gloomy global environment. SOUTH AFRICA STOCKS South African share prices eased from a record high in the previous session led by gold mining stocks such as Harmony and investors will be watching employment statistics out of the United States for direction. NIGERIA SECURITY Gunmen threw bombs and opened fire on a cattle market in remote northeastern Nigeria, killing at least 60 people, a spokesman for Yobe state governor said, an attack whose motives remain unknown. KENYA MARKETS The Kenyan shilling looked set for a period of relative stability against the dollar after the central bank said it was keeping its benchmark on hold for a fifth straight month. KENYA RATES Kenya's central bank held its benchmark lending rate at 18 percent for a fifth month in a row as expected, saying lingering price pressures still needed to be squeezed out of the economy. KENYA BANKS South Africa's FirstRand Bank plans to acquire a mid-sized Kenyan bank when the opportunity arises to boost its presence in the largest economy in one of the fastest-growing regions on the continent, its Africa head said. ZIMBABWE MEDIA CRACKDOWN Zimbabwe on Thursday threatened a crackdown on the media over what it called sensational and inaccurate reporting, following stories over the health of 88-year-old President Robert Mugabe. BOTSWANA RATES Botswana's central bank left its main lending rate unchanged at 9.5 percent on Thursday, saying maintaining rates would be conducive to its medium term 3-6 percent inflation target. MAURITIUS INFLATION Mauritius' annual average inflation rate will slow to 4.7 percent by the end of the year, although high oil prices mean that figure could rise, the central bank said. SOUTH SUDAN-SUDAN CONFLICT Sudan and South Sudan's armies, who have been clashing along their disputed border for weeks, said the frontier was calm after both accepted a U.N.-backed African Union plan to cease fire. ECOWAS COUPS West African leaders warned military juntas in Mali and Guinea Bissau that further defiance of the 15-nation bloc's decisions would not be tolerated but stopped short of deploying troops to both countries. 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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