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African Markets - Factors to watch on Jan 29
January 29, 2013 / 5:17 AM / 5 years ago

African Markets - Factors to watch on Jan 29

NAIROBI, Jan 29 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Tuesday.
    - - - - -
 EVENTS:
 *BOTSWANA - Bank of Botswana to auction its 14-day certificate Treasury
 bill.
 
 GLOBAL MARKETS
 Asian shares rose on Tuesday as recent selling drew bargain hunters, but
 investors were cautious ahead of more U.S. economic reports and a Federal
 Reserve policy decision later in the week that may offer clues to the
 Fed's stimulus plans.                
 
 WORLD OIL PRICES
 Brent crude held steady above $113 on Tuesday on hopes that economic
 growth might be picking up in the world's largest oil consumer after a
 gauge of planned U.S. business spending rose in December, adding to
 recent positive global economic data.                
 
 EMERGING MARKETS
 For the top emerging markets news, double click on            
 
 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 NIGERIA MARKETS
 Nigeria's naira strengthened against the U.S dollar on the interbank
 market on Monday, supported by dollar sales by a unit of Addax Petroleum
 and some offshore investors buying local debt, traders said.
                
 
 NIGERIA SECURITY
 A purported commander of Nigerian Islamist sect Boko Haram declared a
 unilateral ceasefire on Monday, raising fresh questions about possible
 rifts within the secretive militant movement as it was not clear if he
 was speaking for the group.                
     Also, France has asked its citizens to leave northern Nigeria and
 areas around the capital Abuja after threats due to its military
 intervention in Mali, a diplomatic source said on Monday.               
 
 SOUTH AFRICA MARKETS
 South African stocks booked record closes after turning positive in late
 Monday trading, lifted by positive U.S. durable goods data and a strong
 showing from locally listed shares of brewer SABMiller.               
     South Africa's rand fell 2 percent against the dollar on Monday,
 touching a new 4-year low as stronger-than-expected U.S. data prompted a
 greenback rally against emerging market currencies.                      
 
 KENYA MARKETS
 The Kenyan shilling        held steady against the dollar on Monday,
 helped by tightening liquidity in the market, while shares edged up for
 the first time in eight sessions.               
 
 KENYA AIRLINE
 Kenya Airways           recorded slower growth in total passengers
 carried in its third financial quarter, affected by lower traffic in
 Europe and flagging performance on African routes, it said on Monday.
                
 
 KENYA TEA
 Kenya's tea exports earnings, the east African country's top foreign
 exchange source, are seen rising 4 percent to 116 billion shillings
 ($1.33 billion) in 2013, the regulatory Tea Board of Kenya said on
 Monday.                
 
 KENYA- UGANDA PIPELINE
 Kenya and Uganda said on Monday they were looking for a strategic private
 investment partner to build and operate a pipeline to transport refined
 petroleum products between the two east African countries.
                
 
 GHANA MARKETS
 Shares in Fan Milk Limited          rose 1.1 percent after the
 dairy-products maker reported a 44 percent jump in yearly net profit for
 2012.
     Its shares were up 0.04 cedis to 3.60 cedis on 1,500 shares traded,
 leading the GSE Composite Index          up 3.52 points, or 0.28 percent,
 to 1,274.32 points.               
     Also, the yield on Ghana's 91-day bill fell to 22.79 percent at a
 Jan. 28 auction from 22.85 percent at a previous auction.                
 
 ANGOLA LENDING RATE
 Angola's central bank cut its benchmark interest rate by 25 basis points
 to 10 percent, the bank said after a meeting of its monetary policy
 committee on Monday.                
 
 ZAMBIA MOTOR VEHICLE INDUSTRY
 A Zambian government regulator has rejected a proposed merger of Japanese
 conglomerate Toyota Tsusho Corp          and France's CFAO          ,
 saying on Monday it would lessen competition in the local car market.
                    
 
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