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African Markets - Factors to watch on Dec 31
December 31, 2013 / 4:42 AM / 4 years ago

African Markets - Factors to watch on Dec 31

NAIROBI, Dec 31 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Tuesday.
    - - - - -
 EVENTS
 * UGANDA - Uganda December inflation data due out
 * BOTSWANA - Bank of Botswana due to auction 14-day Treasury
 certificate
 
 GLOBAL MARKETS
 Global stocks are closing out 2013 sitting on sizable gains
 courtesy of super-easy monetary policies and an improving
 economic outlook, though some emerging markets have less to
 crow about as funds return to rich-world assets.
                            
 
 WORLD OIL PRICES
 Crude oil futures tumbled on both sides of the Atlantic on
 Monday on early signals that oil output in Libya may be
 starting to recover and concerns over a buildup in local
 government debt in China, the world's second-largest oil
 consumer.                       
 
 SOUTH SUDAN UNREST
 Uganda's president said on Monday the nations of East Africa
 had agreed to move in to defeat South Sudanese rebel leader
 Riek Machar if he rejected a ceasefire offer, threatening to
 turn an outburst of ethnic fighting into a regional
 conflict.                
 
 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 Africa's rand gained more than 1 percent against the
 dollar on Monday, boosted in large part by a slight but
 unexpected trade surplus for November.                
 * South African stocks edged up nearly 1 percent on Monday
 to close near a life-time high, as investors snapped up
 blue-chips such as Naspers           and Mondi          that
 have driven Africa's top bourse to a string of records this
 year.                 
 
 NIGERIA MARKETS
 * Nigeria's naira currency eased to its weakest against the
 dollar in three months on Monday, on dwindling supply from
 oil firms amid strong year-end demand for the greenback.
                 
 *  Nigeria's state-backed rescue bank AMCON retired 4.6878
 trillion Nigerian naira ($29.21 billion) worth of bonds on
 Monday, cutting its liabilities by more than half. 
 
 KENYA MARKETS
 * The Kenyan shilling        weakened 0.2 percent on Monday
 as corporate clients bought dollars ahead of the New Year
 holiday, traders said.                
 * Kenya's year-on-year inflation rate             fell to
 7.15 percent in December from 7.36 a month earlier, the
 statistics office said on Monday.
 
 UGANDA ECONOMY
 * The Ugandan economy will grow 6.25 percent this fiscal
 year, driven by heavy public investment which is seen
 sharply widening the fiscal deficit, the International
 Monetary Fund said on Monday.                 
 
 DRCONGO UNREST
 Congolese troops killed dozens of armed youths who attacked
 the airport, a military barracks and state television
 headquarters in the capital Kinshasa on Monday in incidents
 claimed by a disgruntled religious leader.                 
 
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