African Markets - Factors to watch on May 7

Wed May 7, 2014 12:59am EDT

NAIROBI, May 7 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Wednesday.
    - - - - -
 EVENTS:
 *NAIROBI - Central Bank of Kenya auctions 182-day and
 364-day Treasury bills worth 6 billion shillings.
 *MAURITIUS - Mauritius releases inflation data for April.
 
 GLOBAL MARKETS
 Asian shares fell to a one-month low and the safe-haven yen
 hovered just below a multi-month high against the dollar in
 early trade on Wednesday as the heightened possibility of
 Ukraine slipping into civil war dampened risk
 sentiment.                          
 
 WORLD OIL PRICES
 Brent crude edged higher above $107 per barrel on Wednesday
 after an industry report showed U.S. crude stocks declined
 last week, while increasing geopolitical risks in Ukraine
 helped put a floor under prices.                     
 
 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 Africa's rand firmed against a broadly weaker dollar
 as some risk appetite returned to emerging markets on
 Tuesday, but the local currency was expected to stay within
 a narrow range ahead of a national election.               
     South African stocks ended flat on Tuesday ahead of a
 national election but shares of Mediclinic International
          soared after the private hospital group said its
 annual earnings likely more than quadrupled.                
 
 NIGERIA SECURITY
 Suspected Boko Haram gunmen kidnapped eight girls from a
 village near one of the Islamists' strongholds in
 northeastern Nigeria overnight, while the United States made
 plans on Tuesday to help search for more than 200
 schoolgirls seized by the militant group last
 month.                 
 
 CHINA NIGERIA RAIL CONTRACT  
 China Railway Construction Corp Ltd                      
 has signed a $13.1 billion deal to build a high-speed
 railway in Nigeria, as China's pushes to develop fast rail
 and other infrastructure projects on the continent.
                
 
 KENYA MARKETS
 Kenya's main share index crept up on Tuesday, supported by a
 jump in the share price of cement-maker Bamburi          ,
 while the shilling        finished the day unchanged.
                
 
 UGANDA ECONOMY
 Uganda's anti-gay law is having little impact on its ability
 to attract investment from Western economies and investors,
 its finance minister said on Tuesday.                
 
 UGANDA ELECTRICITY
 Uganda's sole power distributor, Umeme Ltd           , said
 on Tuesday it had suspended trade in its shares on the
 Kenyan and Ugandan bourses pending the sale of a major stake
 by a key shareholder.               
 
 SOUTH SUDAN UNREST
 The United States on Tuesday imposed sanctions on two people
 on opposing sides of the ethnic violence in South Sudan,
 showing the growing frustration in Washington with leaders
 in an African country it helped create.                
     U.N. Secretary-General Ban Ki-moon said on Tuesday South
 Sudan's rebel leader Riek Machar had been invited to
 Ethiopia for peace talks and would "try his best" to go by
 the end of the week.               
 
 MADAGASCAR IMF LOAN
 Madagascar would be able to access up to $47.4 million under
 a loan program from the International Monetary Fund to help
 the Indian Ocean island boost economic growth and reduce
 poverty, the IMF said on Tuesday.                 
 
 MADAGASCAR OIL EXPLORATION
 Austrian oil and gas group OMV           signed an agreement
 to participate in two onshore blocks in Madagascar, a market
 it entered last year, it said in a statement on Wednesday.
               
 
 GUINEA MINING
 Brazilian mining group Vale            has started legal
 proceedings against its partner in Guinea, BSG Resources
 (BSGR), seeking to recoup at least part of the $1.1 billion
 it allegedly has lost, having been stripped of mining rights
 in the country, two sources familiar with the matter
 said.               
 
 ZAMBIA CURRENCY
 Zambia's kwacha        hit its weakest point on record
 against the dollar on Tuesday, after falling copper prices
 tightened foreign exchange inflows into Africa's second
 largest producer.                 
 
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Photo

After wave of QE, onus shifts to leaders to boost economy

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.