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African Markets - Factors to watch on Nov 14
November 14, 2012 / 5:12 AM / 5 years ago

African Markets - Factors to watch on Nov 14

NAIROBI, Nov 14 (Reuters) - The following company announcements, scheduled
economic indicators, debt and currency market moves and political events may
affect African markets on Wednesday.
    - - - - -
 EVENTS:
 * Kenya - Two-day East Africa oil and gas summit in Nairobi to discuss
 oil and gas exploration and production in a region touted as a new
 frontier in global oil exploration. 
 
 
 GLOBAL MARKETS
 Asian shares and the euro steadied on Wednesday but lacked the impetus
 for a decisive rebound, as investors continued to fret about the
 looming "fiscal cliff" in the United States and a delay in releasing
 more aid to debt-stricken Greece.            
 
 WORLD OIL PRICES
 Brent crude slipped below $108 a barrel on Wednesday, declining for a
 third day after the International Energy Agency (IEA) further cut its
 demand outlook for the fourth quarter and 2013 amid a rebound in oil
 exports from sanctions-hit Iran.     
 
 EMERGING MARKETS
 For the top emerging markets news, double click on            
 
 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 SOUTH AFRICA MARKETS
 * South African stocks ended lower on Tuesday, led by heavyweights
 such as Anglo American         after the mining giant raised cost
 estimates for its Minas-Rio project in Brazil and warned of lower
 profits from its Kumba Iron Ore          unit.    
 * Yields on South African government debt rose on Tuesday after a poor
 bond auction, reflecting investors' concerns about global growth and a
 shift of money to safer assets such as U.S. Treasuries.
 * The rand extended losses on the poor sentiment to trade at a
 month-low against the dollar.       
 
 
 NIGERIA MARKETS
 Lagos State, Nigeria's economic and commercial hub, plans to raise 80
 billion naira ($507 million) through the sale of a 7-year bond to fund
 infrastructure, health and education projects, according to a
 prospectus seen by Reuters.                
 
 NIGERIA REVENUES
 Nigeria earned 640.8 billion naira ($4.06 billion) in government
 revenues in October, a 7.7 percent rise on the 594.7 billion naira it
 earned in September, the accountant general said on
 Tuesday.               
 
 KENYA MARKETS
 The Kenyan shilling        hit a five-month low on Tuesday as
 importers bought dollars, and traders said the local currency could
 weaken further to test 86 per dollar.               
 
 KENYA STANDARD CHARTERED
 Kenya's Standard Chartered Bank           said it had raised 8.3
 billion shillings ($97.1 million) through a rights issue to fund
 growth and support its balance sheet.               
 
 IVORY COAST BOND
 Ivory Coast has issued around $187 million in new bonds, increasing
 its 2032 Eurobond to more than $2.5 billion as part of a deal to
 restructure other existing defaulted debt, the finance ministry said
 in a statement on Tuesday.                
 
 ANGOLA INFLATION
 Angola's annual consumer inflation quickened to 9.76 percent
 year-on-year in October from 9.65 percent in September, the National
 Statistics Institute (INE) said on Tuesday.                
 
 BURUNDI INFLATION
 Burundi's year-on-year inflation rate rose to 15.9 percent in October
 from 14.2 percent in September partly due to high cost of transport in
 the coffee-producing nation, the country's statistics board said on
 Tuesday.                
 
 SUDAN SECURITY
 Sudanese rebels shelled the capital of the country's main oil state on
 Tuesday, witnesses and the insurgents said, in what the insurgents
 said was retaliation for government air strikes.                
 
 ZIMBABWE DIAMONDS
 At least $2 billion of diamonds from Zimbabwe's Marange fields have
 been stolen by people linked to President Robert Mugabe's party, a
 diamond watchdog has said, although the state mining firm said the
 gems were sold transparently.                
 
 
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