NAIROBI, May 9 The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
- - - - -
*KENYA - Central Bank of Kenya auctions 91-day T-bills
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
For the top emerging markets news, double click on
For the latest news on African stocks, click on
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
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.
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
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).
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'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.
For the latest precious metals report click on
For the latest base metals report click on
For the latest crude oil report click on