African Markets - Factors to watch on March 13

Thu Mar 13, 2014 2:14am EDT

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NAIROBI, March 13 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Thursday.
    - - - - -
 EVENTS:
 NAMIBIA - Namibia's National statistics agency release
 monthly inflation data. 
 
 GLOBAL MARKETS
 Asian shares cautiously rebounded from two-week lows on
 Thursday though investors were in no mood to embrace risk
 ahead of a batch of Chinese data that may offer clues
 about the extent of its economic slowdown.            
 
 WORLD OIL PRICES
 Brent futures inched higher on Thursday, holding above
 $108 a barrel, as investors focused on risks from the
 unfolding crisis in Ukraine and as OPEC raised its 2014
 global oil demand growth forecast for a second straight
 month.     
 
 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 fell just over 1 percent on
 Wednesday, as concerns about slowing growth in China hit
 mining companies such as Assore ASRJ.J and African
 Rainbow Minerals         .     
 The rand fell to its weakest in a fortnight against the
 dollar on Wednesday, hit as emerging market currencies
 came under pressure because of growth concerns in China.
 ZAR/
 
 NIGERIA ECOBANK
 Pan-African lender Ecobank ETI.LG EBG.GH grew too fast in
 a short space of time, its biggest shareholder said on
 Wednesday, potentially signalling a slowdown in the rapid
 expansion that has taken the financial institution to 35
 countries.                
 
 KENYA MARKETS
 The Kenyan shilling        gained a little ground on
 Tuesday, helped by dollar sales by non governmental
 organisations (NGOs), while stocks closed lower.
                
 
 NIGERIA POWER    
 Nigeria's president has authorised a forensic audit of
 the national energy company, the presidency said on
 Wednesday, after weeks of public uproar over an alleged
 $20 billion in missing state revenues.                
 
 NIGERIA CURRENCY    
 Nigeria's naira currency NGN=D1 firmed 0.1 percent
 against the US dollar on the interbank market on
 Wednesday, supported by greenback sales by two energy
 companies, traders said.                
 
 ANGOLA INFLATION    
 Angola's annual consumer inflation slowed to 7.48 percent
 year-on-year in February from 7.84 percent in January,
 the National Statistics Institute (INE) said on
 Wednesday.                
 
 KENYA MARKETS
 Banking stocks pushed Kenya's main share index higher on
 Wednesday, with investors encouraged by strong earnings
 results and upcoming dividend payments on banking shares.
                
 
 DUBAI BANK EYES KENYA    
 Dubai Islamic Bank DISB.DU plans to expand its operations
 into Indonesia, Kenya and other African countries as it
 emerges from a period of consolidation, the bank's chief
 executive said.                   
 
 KENYA T-BILLS    
 The yield on Kenya's 182-day Treasury bills KE6MT=RR
 edged down to 10.045 percent at auction on Wednesday from
 10.227 percent at the previous sale, the central bank
 said.                    
 
 KENYA/ETHIOPIA     
 Kenya has offered Ethiopian companies a chance to raise
 funds and trade their shares on the Nairobi bourse in a
 move that could give them access to capital without
 compromising Addis Ababa's closed economy policy. 
 
 GHANA INFLATION
 Ghana's annual consumer price inflation rose to a fresh
 three-year high of 14.0 percent in February, up from 13.8
 percent in January, the West African nation's statistics
 office said on Wednesday.                 
 
 MOZAMBIQUE RATES    
 Mozambique's central bank left its key lending rate
 unchanged at 8.25 percent on Wednesday, saying it wished
 to maintain a prudent monetary policy stance despite
 threats to growth from recent serious flooding.
                    
 
 ZIMBABWE GAS PLANT    
 A Zimbabwean unit of Chinese-owned Sinosteel plans to
 build a $780 million coalbed methane gas-fired
 electricity generation plant to produce 400 MW in the
 southwest of the country, a company official said on
 Wednesday.                
 
 
 
 SOMALIA AL SHABAAB OFFENSIVE
 African Union peacekeepers and the Somali army have begun
 a major offensive against al Shabaab militants, the
 U.N.'s Special Representative to Somalia said on
 Wednesday, urging donors to fund logistical support.
                
 
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