African Markets
July 15, 2011 in Banking Industry News
July 15 |
July 15 (Reuters) – The following company announcements,
scheduled economic indicators, debt and currency market moves
and political events may affect African markets on Friday.
– - – - -
EVENTS
* Botswana, Malawi, Nigeria, Tanzania, Rwanda and Zimbabwe
due to release inflation data for June anytime beginning Friday.
* Botswana central bank issues results of its latest
Treasury bill auction.
* Tanzania’s President Jakaya Kikwete on visit to South
Africa.
GLOBAL MARKETS
Gold slipped on Friday though was on track to match its
biggest winning streak in four decades, with debt crises in the
euro zone and the United States leaving investors few
alternatives but to keep piling into the metal. [ID:nL3E7IF02S]
WORLD OIL PRICES
Oil rebounded on Friday on a weaker dollar after Standard
Poor’s warned it may lower the credit rating of top consumer the
United States, capping a volatile week marked by concern about
the U.S. deficit and the euro zone’s debt.
U.S. crude CLc1, up 58 cents at $96.27 a barrel by 0229
GMT, fell more than $2 on Thursday and was poised to end the
week little changed after tumbling below $94 on Tuesday and
topping $99 on Wednesday. [ID:nL3E7IF0JR]
SOUTH SUDAN INDEPENDENCE
The General Assembly admitted South Sudan on Thursday as the
193rd member of the United Nations, sealing the new African
country’s independence after decades of conflict.
[ID:nN1E76D28J]
EMERGING MARKETS
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AFRICA STOCKS
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AFRICA FIXED INCOME
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AFRICA CURRENCIES
Kenya’s shilling is likely to find support next week in
central bank regulations limiting currency speculation, although
a new monetary policy regime in neighbouring Uganda is unlikely
to have the same effect on its currency. [ID:nL6E7IE1QX]
SOUTH AFRICA MARKETS
South Africa’s rand softened against the dollar on Thursday,
with dealers saying the Reserve Bank came into the market to buy
foreign exchange after it rallied from 6-week lows.
[ID:nL6E7IE1VG]
NIGERIA, GERMANY NATURAL GAS
Germany will increase its involvement in Nigeria’s liquefied
natural gas (LNG) industry, Chancellor Angela Merkel said on
Thursday, as Africa’s most populous nation looks to take
advantage of its vast gas reserves. [ID:nL6E7IE1SZ]
KENYA MARKETS
The Kenya shilling KES= closed Thursday trade at 89.60/70
against the dollar, barely moved from Wednesday’s close of
89.55/65 per dollar.
The Nairobi Stock Exchange’s main NSE-20 Share Index
.NSE20 fell for the eighth straight session by 0.82 percent to
3,746.00 points, while the All Share Index .NASI down 0.51
points to close at 86.01.
KENYA DROUGHT
Kenya’s cabinet said on Thursday it had authorised an
emergency expenditure of nine billion shillings ($100 million)
to buy food for victims of drought in parts of the country.
[ID:nLDE76D15C]
KENYA FUEL PRICES
Kenya has nudged up its pump prices for petrol and kerosene
for mid-July to mid-August while slightly lowering that of
diesel, the Energy Regulatory Commission said on Thursday.
[ID:nLDE76D0XC]
KENYA PROPERTY PRICES
Kenya’s house price rises slowed in real terms in the second
quarter of 2011 when rising inflation hit buyers’ hard, a
property index showed on Thursday. [ID:nLDE76D0K8]
TANZANIA NATURAL GAS
Songas, a consortium led by British energy company Globeleq,
plans to invest $120 million to double gas output in Tanzania in
the next two years as demand grows for power generation, a
senior official said on Thursday. [ID:nLDE76D0I4]
GHANA MARKETS
Ghana’s GSE Composite Index .GSECI sunk 6.33 points, or
0.54 percent for its sixth consecutive session fall, to a near
month low of 1,175.04, under the weight of banking stock losses.
The GSE Financial Stocks Index also fell 9.26 points, or
0.81 percent, to 1,134.92 points.
GHANA BUDGET
Ghana’s Finance Minister Kwabena Duffuor on Thursday
requested parliament approval for 1.46 billion cedis ($967
million) of additional spending in 2011 on infrastructure and
other social programmes aimed at creating jobs. [ID:nL6E7IE1QK]
SENEGAL POLITICS
Senegalese President Abdoulaye Wade said on Thursday he was
confident of winning re-election in a vote due next February,
the clearest sign yet that he intends to stand for a new term
despite fierce street protests against his rule. [ID:nL6E7IE2TY]
MALAWI AID
Britain said on Thursday it had suspended aid to Malawi
indefinitely and accused the southern African nation’s
government of mishandling the economy and trampling over human
rights. [ID:nL6E7IE13G]
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