(Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.
EVENTS:
KENYA – The central bank auctions 182-day and 364-day Treasury bills worth a total of 6 billion shillings.
GLOBAL MARKETS
Asian shares fell for the third day in a row on Wednesday as investors grew more risk averse, with renewed uncertainty over Greece’s bailout and mounting worries about slowing global economies overshadowing support provided by ample liquidity.
WORLD OIL PRICES
Brent crude climbed above $122 on Wednesday after China said it would boost energy imports this year while concerns persist over supply risks and Iran’s nuclear program, despite the country’s offer for talks with major powers.
SOUTH AFRICA CURRENCY, BONDS
The rand fell against the dollar, reflecting weakness in emerging market currencies as investors fret about the euro zone debt crisis and global growth, driving government bond yields to one-month highs even after a strong debt auction.
SOUTH AFRICA STOCKS
The broad all share index was down 1.95 percent to 33,368.17 after earlier falling over 2 percent as platinum shares plummeted. Lonmin , the world’s third largest platinum producer, led the way, falling 5.55 percent.
NIGERIA CHEVRON
Chevron Corp. said that a raging fire that followed a gas explosion at its Funiwa well just off the coast of Nigeria had gone out by itself.
NIGERIA VIOLENCE
Ethnic violence in a remote part of Nigeria’s “middlebelt” has killed 16 people and wounded 20, after Fulani herdsmen raided a village there, Benue state authorities said.
KENYA RATES
Kenya’s central bank held its key interest rate steady for a third month in a row on Tuesday after worrying signs from its neighbour Uganda of the risks of easing policy before inflation slows markedly.
KENYA MARKETS
The Kenyan shilling firmed against the dollar after the central bank held its benchmark rate prompting those investors who had expected a cut to sell dollars, while stocks extended their rally to an 11th straight day.
UGANDA CURRENCY
The Ugandan shilling fell 1.5 percent in the first half-hour of trading on Tuesday, extending a losing streak that has seen it fall more than 8 percent since policymakers took a second step to ease record high interest rates last week.
UGANDA CENTRAL BANKER
Lawmakers from Uganda’s ruling party, the National Resistance Movement, voted to clear the central bank governor of corruption allegations and dismissed a recommendation by a parliamentary report calling for his sacking.
MAURITIUS INFLATION
Mauritius’ annual average inflation slid for the third straight month to 6.2 percent in February from 6.4 percent in the previous month, the statistics office said.
ZAMBIA MINING
About 2,000 workers at Canada’s First Quantum Minerals Ltd flagship Zambian copper mine on Tuesday returned to work following appeals from the company and labour unions.
ZIMBABWE MINING
Zimbabwe is set to announce on Wednesday the fate of Impala Platinum’s shareholding in its local unit after latest talks on black ownership ended in deadlock, the state-controlled Herald newspaper said.
BOTSWANA TBILLS
The weighted average yield on Botswana 3-month Treasury bills fell to 5.38 percent from 5.53 percent a month ago, the central bank said.
Source: Reuters
