NAIROBI, March 19 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.
EVENTS:
Mauritius
Bank of Mauritius’ rate setting committee meets. A Reuters poll showed seven out of nine analysts forecasting a modest rate cut, following on from a 10 basis point trim to 5.40 percent in December.
GLOBAL MARKETS
Asian shares edged higher and the dollar was firm against the yen on Monday with investors buoyed after the U.S. market hit an almost four-year high last week and with higher European stocks reflecting signs of growing stability in the euro zone.
WORLD OIL PRICES
Brent crude held above $126 a barrel on Monday, extending last Friday’s gains, as prices were supported by continued concerns over a potential supply disruption from Iran and the prospect of a stronger U.S. economy lifting oil demand.
AFRICA FIXED INCOME
Yields for Kenyan debt may be locked in ahead of a loan that three banks are raising for the government while in Nigeria a central bank decision next week on rates should set the market tone.
SOUTH AFRICA MARKETS
South Africa’s rand stood its ground against the dollar on Friday boosted by the waning strength of the U.S. currency and after central bank Governor Gill Marcus hinted that higher interest rates may be in store.
NIGERIA MARKETS
Nigeria’s interbank lending rates rose sharply this week to an average of 15.08 percent, from 14.25 percent last week, as state-owned energy firm NNPC and deposit insurer NDIC made large withdrawals, putting commercial banks in deficit with the central bank.
NIGERIA SECURITY
A Muslim cleric brokering peace talks between Nigeria’s government and Islamist militant group Boko Haram said on Sunday he was quitting the negotiations because he doubted the government’s sincerity after information was leaked.
KENYA MARKETS
The Kenyan shilling slid on Friday on interbank covering of short dollar and on importers’ pent-up demand for the U.S. currency, while stocks fell for the fifth straight day on profit-taking after rallying on strong full-year results.
KENYA ELECTION
Kenya’s next presidential and parliamentary elections will be held on March 4, 2013, its electoral commission said on Saturday, a vote sure to draw international scrutiny after communal bloodshed that followed a disputed 2007 ballot.
AFRICA TBILLS
The Bank of Ghana said on Friday the yield on its 91-day bill rose to 12.35 at a March 16 auction from 12.12 percent at the last auction.
The weighted average yield on Mauritius’ 182-day Treasury bills fell to 4.06 percent at auction on Friday from 4.08 percent at the previous sale, the central bank said.
ANGOLA INFLATION
Angola’s annual inflation slowed to 11.32 percent year-on-year in February from 11.48 percent in January, the National Statistics Institute (INE) said on Friday.
RWANDA RATE
Rwanda’s central bank held its key lending rate at 7 percent on Friday, holding a relatively tight policy stance as it eyes a gradual fall in inflation in the east African country.
MAURITIUS RATE
The Bank of Mauritius is expected to trim its benchmark lending rate on Monday on the back of a worsening growth outlook for the Indian Ocean island and a marked slowdown in year-on-year inflation.
MOZAMBIQUE ECONOMY
Mozambique’s economic growth accelerated to 8.1 percent in the fourth quarter of 2011 from 6.5 percent in the third quarter, data from the National Institute of Statistics (INE) showed on Friday.
Source: Reuters
