African Markets - Factors to watch on May 9

Thu May 9, 2013 12:58am EDT

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.                
 
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