May 30, 2012 / 5:57 AM / 5 years ago

African Markets - Factors to watch on May 30

NAIROBI, May 30 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Wednesday.	
    - - - - -	
 EVENTS:
 ZAMBIA - Central bank interest rate decision due this week.
 KENYA - Auction of 182-day Treasury bills worth 2 billion shillings, yield
 dropped to 10.915 percent at last week's sale.
 UGANDA - Auction of 120 billion shillings of Treasury bills.
 TANZANIA - Auction of 7-year 10.08 percent Treasury bond worth 20 billion
 shillings
 KENYA - Kenya Airways           rights issue results due.
 TANZANIA - Third day of the African Development Bank's annual meetings.
 IVORY COAST - April inflation data due.
 LIBERIA - Reading of 2012/13 budget.
 THE HAGUE - Former Liberian President Charles Taylor to be sentenced at war
 crimes court.
 
 GLOBAL MARKETS
 Asian shares slipped and the euro touched a 23-month low on Wednesday, as
 fears mounted that Spain's banking woes will push its borrowing costs to
 unsustainable levels while signs emerged that China may move cautiously on
 stimulus measures to bolster its economy.                
 
 WORLD OIL PRICES
 Brent oil dropped to stay below $107 per barrel on Wednesday, with prices on
 track for their biggest monthly decline in two years on risk aversion
 triggered by a worsening euro zone debt crisis that continues to muddy the
 outlook for 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 African fixed income auctions this week, click on                
 
 SOUTH AFRICA MARKETS
 * South Africa's rand held steady against the dollar on Tuesday after
 getting a mild lift from better than expected economic growth data for the
 first quarter, while analysts say the local unit will stay below 8.45 for
 the short term.                
 * South African stocks ended higher on Tuesday, notching up their second
 straight day of gains, with MTN Group among the top performers after the
 wireless phone group said it would continue to return cash to
 shareholders.               
 
 NIGERIA ECONOMY, OIL 
 * Nigeria's plans to change the way it calculates the size of its economy
 will soon inflate it by an extra 40 percent, but analysts say that won't
 alter the pace of real economic growth, a Reuters poll showed on Wednesday.
                
 * Nigeria's long-awaited oil law, when it finally comes, looks likely to be
 a botched job that gives favourable tax terms to foreign oil firms while
 doing little to satisfy calls for transparency and reform of a corrupt and
 wasteful sector.                
 
 KENYA SECURITY
 An explosion that wounded more than 30 people when it tore through a trading
 centre in the heart of the Kenyan capital on Monday was caused by a bomb,
 Kenyan police said on Tuesday.                    
 
 KENYA MARKETS
 The Kenyan shilling        fell 0.5 percent on Tuesday as investors covered
 short dollar positions after police said they were investigating a possible 
 bomb attack in Nairobi on Monday.                
 
 GHANA IMF 
 The International Monetary Fund on Tuesday called on Ghana to tighten
 policies to keep inflation in line with an end-of-year target and made a
 direct call for it to end costly subsidies on fuel.                
 
 SUDAN IMF
 Sudan's economy faces "daunting" challenges after the secession of
 oil-producing South Sudan and emergency measures are needed to stabilise it,
 the International Monetary Fund said on Tuesday.                
 
 LESOTHO POLITICS
 Soldiers deployed in Lesotho's capital on Tuesday after an inconclusive
 weekend election that has left many in the African highland kingdom fearing
 a repeat of the violence that followed a disputed poll in 1998.
                
 
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