African Markets – Factors to watch on May 7

By IndepthAfrica
In Business
May 7th, 2012
0 Comments
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The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Monday.	
    - - - - -	
 EVENTS:
 MAURITIUS - Mauritius to release its annual
 average inflation rate             . Inflation
 slid for the fourth straight month to 5.9 percent
 in March from 6.2 percent in February. Central
 Bank projects inflation will slow to 4.7 percent
 by the end of the year.  

 SEYCHELLES - Consumer prices in Seychelles rose
 1.3 percent in April from the previous month
 increasing the year-on-year inflation rate
              to 7.0 percent, official data showed
 on Monday.                  

 GLOBAL MARKETS
 Shares, oil and other riskier assets slumped on
 Monday after elections in Greece and France saw
 incumbents defeated, raising fears the collective
 response to the euro zone debt crisis seen as
 crucial to holding the currency bloc together is
 fracturing.                

 GLOBAL ECONOMY  
 With the United States struggling through a soft
 patch and Europe battling recession, China may
 come to the rescue by demonstrating a resilience
 that would provide comfort in a sea of economic
 uncertainty. {ID:nL1E8G3QDF]

 WORLD OIL PRICES
 Oil fell sharply on Monday, extending steep losses
 from the previous session, after elections in
 France and Greece raised concerns over their
 ability to carry out further austerity measures
 and renewed worries about the euro zone debt
 crisis.                 

 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
 Kenyan Treasury bill yields are expected to
 continue their decline after inflation fell in
 April and the central bank held its key lending
 rate. Traders said investors were looking forward
 to the bank issuing longer-dated bonds on hopes of
 a cut in interest rates at its next monetary
 policy meeting.                   

 For news on African fixed income, click on

 SOUTH AFRICA CURRENCY, BONDS
 The rand lost more than 1 percent on Friday as
 investors covered short dollar positions on rising
 risk aversion and South African government bonds
 fell as an undersubscribed inflation-linked bond
 sale weighed on the market.         

 SOUTH AFRICA STOCKS
 South African stocks dropped nearly 1 percent on
 Friday as miners such as Assore          were
 hammered after worse-than-expected U.S. jobs data
 sparked concern about the health of the world's
 largest economy.       

 KENYA MARKETS
 The Kenyan shilling        held steady against the
 dollar on Friday, a day after the central bank
 kept its benchmark interest rate (CBR) on hold as
 expected and helped by the central bank draining
 liquidity via repurchase agreements.

 TANZANIA CABINET
 Tanzanian President Jakaya Kikwete axed his
 finance and energy ministers on Friday in a
 reshuffle that had been widely expected due to
 growing public and opposition discontent over
 graft allegations.                

 SOUTH SUDAN CONFLICT
 Sudanese President Omar Hassan al-Bashir said on
 Sunday he would not allow conflict with South
 Sudan to overshadow "strategic relations" with its
 people, striking a less confrontational tone over
 a crisis that has raised fears of war.

 ZAMBIA MAIZE 
 Zambia signed a contract to export of 300,000
 tonnes of maize to Zimbabwe from its huge surplus
 of carry-over stocks from last year, Zambia's Food
 Reserve Agency (FRA) said on Saturday.
                Reuters

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