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African Markets - Factors to watch on March 20
March 20, 2012 / 5:42 AM / in 6 years

African Markets - Factors to watch on March 20

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Tuesday.	
    - - - - -	
 EVENTS:
 * Kenya sells one-year Treasury bond. Yields are expected to fall thanks to
 anticipated heavy subscription levels.
 * Botswana auctions 14-day Treasury bill. 
 
 GLOBAL MARKETS
 Asian shares slipped on Tuesday, dragged down by losses in Hong Kong and
 Shanghai, while the euro held near its highest level in a week after an
 orderly auction of Greek default insurance eased fears about the threat to the
 single currency posed by Greece.                 
 
 WORLD OIL PRICES
 Brent crude fell towards $125 a barrel on Tuesday as global supply concerns
 eased and a hike in Chinese fuel prices sparked fears of lower energy demand
 in the world's no.2 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                
 
 SOUTH AFRICA MARKETS
 South Africa's rand edged firmer against the dollar on Monday after central
 bank data showed the current account deficit unexpectedly narrowed in the
 fourth quarter of last year, and in line with a stronger euro.                
 
 
 NIGERIA MARKETS
 * Nigeria's inflation rate eased in February as the removal of fuel subsidies
 had a more muted impact on prices than forecast, strengthening analysts'
 expectations that the central bank will hold interest rates unchanged on
 Tuesday.                
 * The Nigerian naira          weakened marginally against the U.S dollar on
 the interbank market on Monday as a unit of ExxonMobil         sold around $54
 million to some lenders, which ofset pressure on the local currency by
 gasoline importers.                
 
 NIGERIA WEALTH
 Nigeria's super rich are no strangers to conspicuous consumption, and there's
 no better way to flaunt your wealth than by buying a brand new European sports
 car.  
 German carmaker Porsche             officially opened a new car dealership on
 Friday in the heart of Lagos' wealthiest district, Victoria Island, a place
 with one of the world's highest concentrations of millionaires.
                
 
 KENYA MARKETS
 * Kenyan shares fell 1.33 percent on Monday, dragged down by losses in shares
 of Equity Bank           and national carrier Kenya Airways          , while
 the shilling        firmed 0.5 percent against the dollar.                   
 * Kenya's one-year Treasury bond yield is expected to fall further at an
 auction this week thanks to heavy subscription which would allow the central
 bank, keen to bring down the cost of domestic borrowing, to reject less
 favourable bids.                 
 
 MAURITIUS RATE
 Mauritius cut its key repo rate              by a surprise 50 basis points to
 4.9 percent on Monday due to risks to its growth outlook, which it also
 trimmed to take account of uncertainty in global markets.                
 
 GHANA CURRENCY    
 Ghana's cedi plunged to record lows against the dollar on Monday on increased
 seasonal demand for the greenback by the corporate sector and with a lack of
 solid central bank support, traders said.                
 
 COMOROS ECONOMY
 The economy of the Indian Ocean island of Comoros could grow by up to 2.5
 percent this year if the government implements financial and fiscal reforms,
 the International Monetary Fund said on Monday.                 
 
 
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($1 = 1573.000 Tanzanian Shillings)

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