August 27, 2013 / 4:28 AM / 4 years ago

African Markets - Factors to watch on Aug 27

NAIROBI, Aug 27 (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 14-day treasury bills.
 *KENYA- Kenya hosts Uganda, Rwanda, Burundi and South Sudan in
 a regional infrastructure conference.
 
 GLOBAL MARKETS
 Asian stocks slipped on Tuesday, while the Turkish lira hit a
 record low after the United States signalled possible military
 action against the Syrian government over a suspected chemical
 weapons attack.                           
 
 WORLD OIL PRICES
 Brent crude oil prices hit a five-month high above $111 a
 barrel on Monday as the United States signalled it was edging
 toward a possible military response to last week's suspected
 chemical attack in Syria, but prices settled slightly lower in
 choppy trade as weak U.S. economic data weighed.
                     
 
 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
 The rand weakened against the dollar on Monday, hit by
 continued labour unrest in Africa's largest economy with
 construction and airport workers the latest to down tools.
                
     South African stocks booked their highest finish on record
 on Monday, as a weaker rand currency helped lift battered down
 gold producers such as Gold Fields         .                
 
 NIGERIA MARKETS       
 Nigeria's naira          closed broadly flat against the U.S
 dollar on the interbank market on Monday as two multinational
 oil companies sold about $107 million to some lenders
                
 
 NIGERIA POWER
 Nigeria's President Goodluck Jonathan said on Monday that
 bidders for state electricity assets had completed payments,
 clearing a major hurdle in a privatisation scheme meant to end
 the country's chronic power shortages.                
 
 ETHIOPIA GROWTH
 Ethiopia's economy is likely to grow 7 percent a year over the
 next three to five years, below its average of the last decade,
 and to push that rate higher, the government needs to change
 policy to encourage private investment, the World Bank said.
                
 
 KENYA MARKETS
 The Kenyan shilling        was steady on Monday as dollar
 demand from importers was offset by investors lured to
 high-yielding government debt, while on the stock market sugar
 maker Mumias          led shares lower.                
 
 KENYA KAKUZI
 Kenyan agricultural firm Kakuzi           posted a 3 percent
 dip in pretax profit for the six months ended June to 113
 million shillings ($1.3 million), partly due to lower earnings
 from tea.                
 
 UGANDA MARKETS
 The Ugandan shilling        eased a touch on Monday as banks
 covered short dollar positions in the interbank market, but
 traders said the immediate outlook was broadly steady.
                
 
 MOZAMBIQUE ANADARKO STAKE SALE
 India's Oil and Natural Gas Corp           has agreed to buy 10
 percent in a gas field offshore Mozambique from Anadarko
 Petroleum Corp for $2.64 billion, as the explorer looks to
 offset diminishing supplies from domestic gas fields by buying
 overseas assets.                
 
 CONGO CONFLICT
 Congo's army said it clashed with eastern rebels on Monday,
 ending a brief lull in days of fighting that has killed and
 wounded dozens.                
 
 SOUTH SUDAN OIL
 South Sudan's parliament has passed a long-awaited petroleum 
 bill after years of consultation and waits for final approval
 by President Salva Kiir, a senior lawmaker said on Monday.
                
 
 MAURITIUS TRADE
 Mauritius's trade deficit narrowed by 12.1 percent in June
 compared with the same month in 2012 to 5.14 billion rupees as
 higher sales of food and live animals pushed up the value of
 exports, data showed on Monday.                
 
 IVORY COAST COCOA
 Cocoa arrivals at ports in top grower Ivory Coast reached
 around 1,372,000 tonnes by August 25 since the start of the
 season in October, exporters estimated on Monday, up from
 1,342,000 tonnes in the same period of the previous
 season.               
 
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