African Markets - Factors to watch on June 17

Mon Jun 17, 2013 1:03am EDT

NAIROBI, June 17 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Monday.
               - - - - -
 
 GLOBAL MARKETS
 Asian shares recouped early losses on Monday but prices were capped as
 investors settled in to wait for the U.S. Federal Reserve meeting
 outcome later in the week - and some long-awaited clarity on its
 intentions for monetary stimulus.           
 
 WORLD OIL PRICES
 Brent crude futures traded below $106 a barrel on Monday, as worries
 over bulging U.S. inventories and soft global demand forecasts
 overshadowed supply concerns tied to Middle East tensions.      
 
 EMERGING MARKETS
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 AFRICA STOCKS
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 AFRICA CURRENCIES
 African currencies are expected to remain under pressure next week,
 with Nigeria's naira seen hitting new multi-months lows, reflecting an
 exodus from risky assets on signs the U.S. Federal Reserve could start
 winding down its bond-buying programme.               
 
 AFRICA DEBT
 Worries about increased government debt and lower donor aid are
 expected to push yields higher at an auction in Uganda next week while
 Kenyan bond yields are set to continue their decline.                
 
 SOUTH AFRICA MARKETS
 South Africa's rand was under renewed pressure against the dollar on
 Friday, weakening as much as 1.4 percent on news of a strike at a mine
 owned by platinum producer Amplats         .                
     South African stocks rose on Friday as investors bought recently
 battered shares such as retailers, while resource companies such as
 Lonmin          got a boost from talks to ease labour strife and
 violence in the domestic mining sector.                
 
 NIGERIA MARKETS
 Nigerian stocks and the naira          both tumbled in the week to
 Friday, echoing similar falls in bonds in previous weeks, as foreign
 investors dumped frontier market assets in anticipation that major
 central banks may back off loose monetary policies.                    
 
 
 NIGERIA INFLATION
 Nigeria's consumer prices were 9 percent higher in May than in the same
 month a year ago, data from the National Bureau of Statistics showed on
 Sunday, a very slight declined on April's inflation rate of 9.1
 percent.                
 
 KENYA MARKETS
 The Kenyan shilling        fell to an 11-week low on Friday as expected
 support from the central bank failed to materialise and a week-long
 share sell-off persisted.                
 
 SUDAN/SOUTH SUDAN OIL DISPUTE
 Sudan and South Sudan are prepared to take steps, brokered by the
 African Union, to try to avert an oil crisis between them amid
 accusations from both sides that the other is supporting insurgencies
 in their territories.                
 
 ANGOLA LNG
 Angola's much-delayed liquefied natural gas (LNG) plant has finally
 started exports, with the first cargo shipped to Brazil on Sunday, the
 Angola LNG venture said in a statement.                
 
 SUDAN TELECOMS TAX
 Sudan has scrapped a 30 percent profit tax on telecom operators until
 2015-end, replacing it with a 2.5 percent levy on total income, the
 state news agency said, in a move that should help a sector hurt by the
 plunging value of the Sudanese pound.                
 
 TULLOW OIL UGANDA
 Tullow Oil         said on Friday a London court had ruled in its
 favour in a case the oil company brought against Heritage Oil         
 over tax payable on the sale of oil fields in Uganda.                  
 
 
 TANZANIA CURRENT ACCOUNT
 Tanzania's current account deficit narrowed by 13.3 percent in the year
 to April, with stronger tourism, manufacturing and agricultural output
 and earnings cushioning a decline in gold exports, its central bank
 said on Friday.                
 
 ZIMBABWE INFLATION  
 Zimbabwe's headline consumer inflation slowed to 2.2 percent
 year-on-year in May from 2.49 percent in April, data from the national
 statistics agency Zimstats showed on Friday.                
 
 UGANDA HYDRO POWER
 China has provided credit worth $500 million to Uganda to help pay for
 the construction of a large Nile River hydropower dam at Karuma, a
 government document said on Friday, reviving the $2 billion project
 stalled for years by a lack of money.                
 
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