June 20, 2013 / 5:18 AM / 4 years ago

African Markets - Factors to watch on June 20

NAIROBI, June 20 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Thursday.
               - - - - -
 GLOBAL MARKETS
 Asian shares tumbled to nine-month lows on Thursday as slowing Chinese
 manufacturing activity exacerbated sentiment already unnerved by the
 U.S. Federal Reserve Chairman Ben Bernanke confirming the Fed would
 begin reducing its stimulus spending later this year.            
 
 WORLD OIL PRICES
 Oil slipped more than $1 on Thursday, its biggest daily slide in nearly
 three weeks, as slowing Chinese manufacturing activity unnerved
 investors already worried about the U.S. Federal Reserve's plan to roll
 back its stimulus later this year.      
 
 EMERGING MARKETS
 For the top emerging markets news, double click on            
 
 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 AFRICA CURRENCIES
 African currencies are expected to remain under pressure next week,
 with Nigeria's naira seen hitting new multi-months lows, reflecting an
 exodus from risky assets on signs the U.S. Federal Reserve could start
 winding down its bond-buying programme.               
 
 AFRICA DEBT
 Worries about increased government debt and lower donor aid are
 expected to push yields higher at an auction in Uganda next week while
 Kenyan bond yields are set to continue their decline.                
 
 SOUTH AFRICA MARKETS
 South African stocks were down slightly on Wednesday as a cautious
 market awaited a statement from the U.S. Federal Reserve that investors
 hope will shed light on the future of its bond-buying programme.
                
     South African bonds and the rand rose on Wednesday after consumer
 inflation eased and as the current account deficit shrank, lessening
 pressure on monetary policy and the need for capital
 inflows.               
 
 NIGERIA MARKETS
 Nigeria's naira currency firmed against the dollar on the interbank
 market to its strongest level in more than a week on Thursday, after
 the central bank intervened in the market several times, traders said.
                
 
 KENYA MARKETS
 Kenyan shares halted an eight-session slide and the shilling rose after
 the government allayed concerns that plans to re-introduce a tax on
 capital gains would dull the appeal of equities and other asset
 classes.                
 
 UGANDA OIL
 Uganda is aiming for commercial output of oil by 2016 at the earliest,
 as the landlocked east African nation seeks cheaper energy and funds
 for infrastructure projects                
 
 SOUTH SUDAN INFLATION
 South Sudan's annual inflation dropped to 9.2 percent in May, down from
 16 percent in April, as the cost of food and beverages decreased,
 official data showed on Wednesday.                
 
 SOUTH SUDAN BUDGET
 South Sudan's government has proposed a 17.33 billion South Sudanese
 pound ($5.6 billion) budget for the 2013/2014 fiscal year starting next
 month, a minister said on Wednesday, expecting oil flows to continue
 despite a row with Sudan.                
 
 NAMIBIA CENTRAL BANK RATE
 Namibia's central bank kept its main lending rate unchanged at 5.5
 percent for the fifth straight meeting on Wednesday, saying inflation
 was stable but the economy needed support from the impact of the euro
 zone recession.                
 
 FAN MILK ACQUISITION
 Dubai private equity group Abraaj said on Wednesday it will acquire
 African dairy firm Fan Milk International, tapping into fast rising
 consumer spending in six west African countries.                
 
 SOMALIA ATTACK
 Islamist militants carried out a deadly assault on the main U.N.
 compound in the Somali capital on Wednesday, dealing a blow to fragile
 security gains that have allowed a slow return of foreign aid workers
 and diplomats.                
 
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