African Markets - Factors to watch on March 11

Tue Mar 11, 2014 2:01am EDT

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NAIROBI, March 11 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Tuesday.
    - - - - -
 EVENTS:
 RWANDA - Rwanda's National Institute of Statistics to
 release February inflation figures. Urban inflation
 RWCPIY=ECI slowed to 2.43 percent in the year to January
 from 3.65 percent in the previous month
 
 ANGOLA - Angola's central bank to publish data on foreign
 exchange reserves for January.
 
 MOZAMBIQUE - Bank of Mozambique announces latest decision on
 interest rates after monetary policy committee meeting.
 
 NAMIBIA - Namibia's National statistics agency release
 monthly inflation data. 
 
 GLOBAL MARKETS
 Asian markets were finding their feet on Tuesday after a
 rocky ride the previous session, though uncertainty about
 the true state of China's economy kept nerves frayed and
 commodity prices restrained.           
 
 WORLD OIL PRICES
 Brent futures were steady on Tuesday and held near $108 a
 barrel as a worsening crisis over Ukraine stoked supply
 disruption fears, while concerns over demand growth from the
 world's two biggest oil consumers kept prices under
 pressure.     
 
 EMERGING MARKETS
 For the top emerging markets news, double click on
            
 
 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 SOUTH AFRICA MARKETS
 South African stocks slid lower on Monday, led by
 heavyweight resource companies such as Kumba Iron Ore
 KIOJ.J, as lower than expected Chinese trade data rattled
 investors and raised concerns about slowing demand for
 commodities.     
 South Africa's rand weakened against the dollar on Monday
 but remained with its recent tight range ahead of data
 releases later this week that could help give it direction.
 ZAR/
 
 KENYA EUROBOND
 Kenya will push ahead with a debut Eurobond even though
 market conditions have deteriorated and it is not clear what
 yield it will have to pay, Finance Minister Henry Rotich
 said on Monday.                
 
 KENYA MARKETS
 The Kenyan shilling KES= firmed slightly on Monday after the
 central bank's mopping-up of excess liquidity in the money
 markets relieved some pressure, traders said, while stocks
 closed higher.                
 
 KENYA MINING   
 Africa-focused miner Goldplat Plc GLDP.L said on Monday it
 was considering a joint venture for its Kenyan operations to
 help curb losses and comply with a new local ownership law.
                
 
 GHANA GAS PLANT
 Ghana will start processing gas from its offshore Jubilee
 oil field by September following long delays, the head of
 state-run Ghana National Petroleum Corporation (GNPC) said
 on Monday.                
 
 BARRICK/AFRICA  
 Barrick Gold Corp          said on Monday it plans to sell
 about 13.5 percent of its holdings in its majority-owned
 subsidiary African Barrick Gold         .                 
 
 UGANDA CURRENCY
 The Ugandan shilling        weakened on Monday after cuts to
 foreign aid prompted by the country's law banning
 homosexuality undermined confidence in east Africa's
 third-largest economy.                
 
 SOMALIA AL SHABAAB
 The leader of the al Qaeda-aligned Islamist group al Shabaab
 has urged Somalis to wage holy war against Ethiopia,
 Somalia's Horn of Africa neighbour whose forces are
 preparing to lead an African Union offensive against the
 militants.                
 
 ZIMBABWE ROADS    
 Zimbabwe's capital Harare has agreed to sign a $400 million
 deal with a South African company to upgrade its dilapidated
 road network, the state-owned Herald newspaper said on
 Monday.                
 
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