African Markets - Factors to watch on May 9
NAIROBI, May 9 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. - - - - - EVENTS: *KENYA - Central Bank of Kenya auctions 91-day T-bills GLOBAL MARKETS Encouraging global data and Wall Street's extended record run boosted Asian shares to a near two-year peak on Thursday, with strong Australian jobs data and a surprise interest rate cut by South Korea further cementing the positive mood. WORLD OIL PRICES The spread between Brent and U.S. crude oil futures narrowed sharply in the last half hour of trade on Wednesday fueled by expectations for increased capacity to funnel rising U.S. crude oil production out of benchmark-supply-point Cushing. 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 Zambian kwacha could come under pressure this week on lower copper prices, while in Ghana strong corporate demand for dollars is likely to keep the cedi near all-time lows. SOUTH AFRICA MARKETS South Africa's rand firmed against the dollar on Wednesday, lifted by a stronger euro, which offset comments from the finance minister that reinforced expectations the central bank could loosen policy this year. South African stocks rebounded on Wednesday and ended more than 1 percent higher after resource shares such as Assore and Kumba Iron Ore were buoyed by strong trade data from top commodities consumer China. NIGERIA MARKETS Nigeria stock index rose by almost two percent to nearly a four and half year high on Wednesday, lifted by gains in banking and consumer goods stocks. KENYA MARKETS The Kenyan shilling rose slightly on Wednesday after an interest rate cut that traders said was largely priced in before the central bank announced it, while Nairobi stocks rose. KENYA REVENUE Kenya plans to lift total state revenue by 15 percent in the next fiscal year, according to Treasury figures presented to parliament on Wednesday. KENYA KCB BANK Kenya Commercial Bank (KCB) , east Africa's largest bank by assets, reported first-quarter pretax profit up 26 percent on last year at 4.3 billion shillings ($51 million). TANZANIA INFLATION Tanzanian inflation maintained its downward trend in the year to April, pushed lower by a slowdown in food price rises, official data showed on Wednesday. GHANA CEN.BANK Ghana's central bank governor said on Wednesday that he would step up the supply of dollars to the interbank market to support the local cedi currency. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.