African Markets – Factors to watch on May 17
The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
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KENYA-The central bank offers 2 billion shillings of 91-day Treasury
bills at auction.
ZAMBIA-Auction of 91, 182, 273, 364-day Treasury bills.
MAURITIUS-Bank of Mauritius to offer 400 million rupees of 182-day
Treasury bills at auction.
Asian shares on Thursday recovered a bit of the ground lost in the
previous day’s sell-off, but investors found no reason to bet on
risk amid deepening turmoil in Greece and fears of contagion to
other stressed euro zone economies.
WORLD OIL PRICES
Brent crude slipped to a near four-month low on Thursday as
investors shunned riskier assets following turmoil in Greece and the
euro zone while oil supply could rise as G8 countries may tap
emergency reserves ahead of sanctions on Iran in July.
EAST AFRICA OIL
Western companies announced finds of huge additional quantities of
gas off the coast of Mozambique and Tanzania, cementing the future
of east Africa as a major new supplier exporting liquefied natural
gas (LNG) to energy-hungry Asia.
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AFRICA FIXED INCOME
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SOUTH AFRICAN MARKETS
* South Africa’s rand plumbed five month lows against the dollar on
heightened global risk aversion on Wednesday before staging a
recovery in late afternoon trade.
* South African stocks rose for the first day in three sessions on
Wednesday, gaining 1 percent as luxury goods maker Richemont
surged after beating expectations with its full-year
* Nigerian naira falls to 2-month low on dollar demand.
* Nigeria to sell 126 bln naira in treasury bills.
* Nigeria’s forex reserves rise to 21-mth high.
* The Kenyan shilling fell on Wednesday, driven lower by a
broad-based investor exodus from riskier assets but paring losses
after the central bank sold dollars directly to commercial banks for
a second day and mopped up liquidity.
* Rising total interest income buoyed Barclays Bank of Kenya’s
profit defying high interest rates and inflation to beat
* Kenya’s 182-day yield falls to 12.078 percent on heavy demand.
* Uganda’s 91-day paper yield inches up to 18.7 percent.
* Uganda’s planned investment more than tripled in the first quarter
of this year from the preceding three months, buoyed by increasing
interest in the country’s energy sector, a state agency said on
TANZANIA GOLD, BONDS
* Tanzania’s gold production rose to 40.4 tonnes in 2011 from 35.6
tonnes a year ago after mining companies invested in higher output
due to cash in on the rising price of the precious metal, its
central bank said on Tuesday.
* Tanzanian 5-year Treasury bond yield at 14.9 percent.
Ghana’s cedi remained flat against the dollar on Wednesday as a lack
of dollar sellers brought activity in the interbank market to a near
standstill, traders said.
Malawi raised its 2012 inflation forecast on Wednesday to 15 percent
from a previously projected 6 percent due to the effects of a sharp
currency devaluation last week.
Mozambique 3-month Treasury-bill yield falls to 4.4 percent.