July 16, 2012 / 5:33 AM / 5 years ago

African Markets - Factors to watch on July 16

NAIROBI, July 16 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Monday.
    - - - - -
 GLOBAL MARKETS 
 Asian shares extended their rally on Monday as fears of an economic hard landing
 in China subsided, with Premier Wen Jiabao raising the prospect of more policy
 stimulus if needed.              
 
 WORLD OIL PRICES
 Brent crude held steady above $102 per barrel on Monday on optimism over the
 outlook for demand growth as China's Premier Wen Jiabao said the government will
 step up efforts to boost the economy of the world's second-largest oil consumer.
                
 
 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 news on African fixed income, click on                
 
 AFRICA DEBT    
 Bond sales in Uganda and Nigeria next week are expected to be well received,
 while in Kenya investors continue to shun Treasury bills in favour of
 longer-term repos.                    
 
 SOUTH AFRICAN MARKETS 
 South African stocks ended the week more than 1 percent firmer as resources
 stocks like Exxaro          recovered after a week-long hammering.           
 
 KENYA FUEL PRICES    
 Kenya has reduced the price of fuel at the pump by a big margin after prices of
 crude oil fell in global markets, the country's energy regulator said on
 Saturday, signalling that recent drops in the rate of inflation would
 accelerate.                
 
 KENYA MARKETS
 The Kenyan shilling        inched down against the dollar on Friday as banks
 covered short greenback positions ahead of the weekend, while shares gave back
 their gains from the previous two sessions.                
 
 GHANA IMF   
 The International Monetary Fund has approved final disbursement of $178.74
 million under its current three-year pact with Ghana, but warned steps needed to
 be taken to fend off risks to macroeconomic stability.                
 
 TANZANIA POWER    
 Tanzania's state-run power company has suspended its managing director and three
 other senior managers over allegations of embezzlement and abuse of office.
                
 
 ZAMBIA SABMILLER     
 Zambian Breweries Plc         , a unit of global brewer SABMiller        , said
 on Friday it plans to begin production at its new $90 million brewery by
 mid-November.                          
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