African Markets - Factors to watch on April 3 - Reuters

Details: Written/Submitted by External Source; Category: South Sudan & African News From Various Sources; Published: 03 April 2012; Hits: 2792

Tue Apr 3, 2012 1:03am EDT

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. EVENTS: BOTSWANA-Central bank to sell 14-day certificate Treasury bills GLOBAL MARKETS Asian shares rose on Tuesday on the back of strong gains in global equities overnight, after solid manufacturing data from the United States, and as leading Asian exporters offset signs of mild recession in Europe. WORLD OIL PRICES Brent crude was steady above $125 a barrel on Tuesday after sharp gains in the previous session, supported by fresh signs of a sustained recovery at the top oil consumer, the United States, and the prospect of tighter crude supplies from the North Sea. MALI COUP Mali's neighbours agreed to shut their borders with the West African country on Monday as part of tough sanctions aimed at forcing the leaders of last month's coup to step down. SUDAN CONFLICT South Sudan and Sudan began talks on Monday aimed at easing military tensions, but both sides' continued accusations of attacks by the other left little hope for a peaceful outcome. EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on African stocks, click on AFRICA FIXED INCOME Falling inflation in Kenya and Uganda is likely to put downward pressure on yields at Treasury bill auctions this week. SOUTH AFRICA MARKETS * South Africa's rand edged higher against the dollar on Monday, after bullish China data boosted risk appetite, and government bonds rose, although demand for local debt could weaken if inflation data starts pointing to interest rate rises. * South African stocks cruised higher on Monday as global investor sentiment was lifted by an upbeat reading of business activity in U.S. manufacturing, but blue-chip heavyweight MTN fell again on concerns about a massive lawsuit. NIGERIA MARKETS * The Nigerian naira gained marginally against the U.S dollar on the interbank market and at the bi-weekly foreign exchange auction on Monday, supported by about $240 million in dollar sales by three local units of energy companies. * Nigeria's Diamond Bank falls 3 percent on FY loss. UGANDA RATES * Uganda's central bank left its key lending rate unchanged at 21 percent on Monday, saying that while inflation was declining risks to the outlook remained from food prices and a weak currency. * The Uganda shilling inched up against the dollar on Monday after the central bank left interest rate unchanged, with market players looking to this week's treasury bill auction for further direction. KENYA MARKETS * Kenya's central bank is likely to keep its key interest rate on hold for the fourth month in a row on Wednesday, with inflation still higher than expected last month and upside risks persisting. * The Kenyan shilling was steady against the dollar on Monday, with investors looking to Wednesday's interest rate meeting for direction, traders said, while stocks inched lower. TANZANIAN MARKETS * Tanzania offers 7-year 10.08 percent Treasury bond on Wednesday. * Tanzania has received a $100 million credit from the World Bank to improve the investment climate and boost growth in east Africa's second-biggest economy. MAURITIUS ECONOMY Business confidence in Mauritius fell in the first quarter of 2012 as a strong rupee and festering euro zone woes fuelled uncertainty in the island's key services sector, a survey showed on Monday. NAMIBIA ECONOMY Robust mining and farming, as well as an expected boost from strong government spending in last year's budget, should keep Namibia's economy growing at a modest pace in 2012, with a slight acceleration next year, a Reuters poll found. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on

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