African Markets - Factors to watch on May 1 - Reuters

Details: Written/Submitted by External Source; Category: South Sudan & African News From Various Sources; Published: 01 May 2012; Hits: 2563

Tue May 1, 2012 1:59am EDT

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. - - - - - GLOBAL MARKETS Asian shares inched up on Tuesday as Australia's larger-than-expected rate cut and firm Chinese factory data boosted Australian equities, but concerns about the U.S. economy and the euro zone capped prices in holiday-thinned trade. WORLD OIL PRICES Brent crude held steady above $119 a barrel on Tuesday, with an expansion in China manufacturing helping to counter gloomier economic outlooks from the euro zone and the United States that could depress fuel demand. 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 For news on African fixed income, click on SOUTH AFRICA CURRENCY, BONDS South Africa's rand hit a near 4-week high against the dollar but later relinquished the gains to end slightly down in quiet trade after local data pointed to a hefty deficit on the trade account during the fist quarter of the year. SOUTH AFRICA SHARES South African stocks rose slightly on Monday in the last trading session of the month, buoyed by financial and resource stocks such as diversified miner African Rainbow Minerals . NIGERIA MARKETS The Nigerian naira firmed against the U.S. dollar on the interbank market, supported by speculation of planned dollar sales by two units of multinational oil companies and some banks selling down their position in anticipation of large month-end dollar flows. NIGERIA FOREX RESERVES Nigeria's foreign exchange reserves rose by 2.96 percent on the month to $36.52 billion on April 27, the highest level in more than one year, data from the central bank showed. NIGERIA SECURITY A bomb blast struck a police chief's convoy in eastern Nigeria, killing 11 people, a witness and an official said, a day after attacks in other areas killed at least 19. KENYA MARKETS The Kenyan shilling was flat against the dollar on Monday ahead of a key rate setting meeting on Thursday, with few prepared to place bets until they get a clear sense of direction for the central bank. KENYA INFLATION Kenya's year-on-year inflation rate slowed in April to its lowest level since May last year, data showed on Monday, boosting the chances the central bank will trim its key lending rate soon. KENYA RATES Kenya's central bank is likely to hold its key interest rate steady on Thursday because credit is still growing strongly and rising fuel prices still pose an inflation risk, analysts said. KENYA AIRWAYS Kenya Airways posted a 5.2 percent rise in quarterly passenger numbers, helped by daily flights to South Sudan, with cargo up 4.1 percent in the January-March period. UGANDA INFLATION Uganda's year-on-year inflation fell for the second straight month in April to 20.3 percent from a revised 21.1 percent, due to slowing food prices, the statistics office said. ZAMBIA MAIZE Zambia's maize output declined by about 6 percent to 2.8 million tonnes in the 2011/2012 season from 3 million tonnes last year, the agriculture minister said. ANGOLA RATES Angola's central bank left its benchmark interest rate unchanged at 10.25 percent for the third straight month as it strives to meet its year-end inflation target of 10 percent, it said. GUINEA BISSAU COUP West African regional bloc ECOWAS slapped sanctions on Guinea-Bissau's military rulers and threatened to use force to dislodge them, after talks to restore constitutional order in the coup-stricken nation broke down. IVORY COAST INFLATION Year-on-year inflation in Ivory Coast fell to 0.6 percent in March from 2.0 percent in February, figures from the National Statistics Institute showed. SOUTH SUDAN-SUDAN CONFLICT South Sudan said Sudanese war planes bombed an oil region in the newly independent state, a day after Khartoum declared a state of emergency in some border areas as tensions showed no signs of abating. MALAWI CURRENCY Malawi will devalue its kwacha currency to smooth negotiations with the International Monetary Fund, which is considering a request from the Southern African state for a new financing programme it needs to unlock aid. MALI COUNTER-COUP Mali's military junta said on Tuesday it remained in control of key sites in and around the capital after an attempted counter-coup backed by foreigners, according to a message aired over state television. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on

Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHlrqKwmuMbjoacvwXvJUh-Hw67XA&url=http://www.reuters.com/article/2012/05/01/africa-factors-idUSL5E8G108R20120501

African Markets - Factors to watch on May 1 - Reuters

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