African Markets - Factors to watch on Sept 17
moves and political events may affect African markets on Monday.
- - - - -
GLOBAL MARKETS
Asian stocks touched their highest in more than
four months on Monday and gold, oil and copper
hovered near multi-month highs, after rallying
late last week on hopes that fresh stimulus from
the world's top central banks will support
flagging growth.
WORLD OIL PRICES
Brent crude rose for the eighth consecutive
session on Monday to just below $117 a barrel,
though prices remained below a four-month peak hit
on Friday on worries that high oil prices could
hamper efforts to boost a struggling world
economy.
EMERGING MARKETS
For the top emerging markets news, double click on
AFRICA MONEY
South Africa's dependence on bond inflows is
starting to look like a dangerous addiction.
EAST AFRICA ENERGY
As giant oil and gas discoveries have some of the
world's biggest energy firms jostling for space in
East Africa, the fate of one gas producer offers
them a cautionary tale.
AFRICA STOCKS
For the latest news on African stocks, click on
SOUTH AFRICA MARKETS
*South African stocks booked a fresh record close
on Friday as aggressive stimulus by the U.S.
Federal Reserve boosted mining shares, including
African Rainbow Minerals , and outweighed
worries over strikes in the platinum and gold
sector.
*South Africa's rand was sightly firmer against
the dollar on Friday, after tumbling for most of
the week due to deadly labour strife in the mining
sector that has raised concerns about the
stability of the crucial industry.
NIGERIA ECONOMY
Nigeria's economy grew 6.28 percent in the second
quarter of this year, driven by non-oil sector
growth, while inflation fell for the second
straight month in August helped by tight monetary
policy, the National Bureau of Statistics (NBS)
reported.
NIGERIA OIL SPILL
Italian oil firm Eni said on Saturday an
oil spill near its facilities in the Niger Delta
had been contained, but local people said the
pollution had spread and damaged their fishing.
KENYA MARKETS
*The Kenyan shilling ended steady against
the dollar on Friday, but was seen weakening as
falling interest rates make it cheaper for
commercial banks to hold long dollar positions,
while shares halted a three-session rally.
TANZANIA OIL, GAS REVIEW
Tanzania's energy minister has ordered a review of
all contracts with oil and gas exploration
companies by Nov. 30, saying some were not in the
country's interest and should be revoked, adding
to measures already under way to overhaul the
country's energy policy, newspapers reported on
Sunday.
TANZANIA INFLATION
Slowing food prices in Tanzania pushed its
year-on-year inflation rate to 14.9
percent in August from 15.7 percent a month
earlier, official data showed on Saturday, a trend
that is expected to persist in coming months.
UGANDA OIL
Total SA expects to drill eight
exploration wells in Uganda by end 2013, and will
spend about $650 million on its activities in the
same period, a senior company official said on
Saturday.
ZAMBIA EUROBOND
Zambia's debut $750 million, 10-year Eurobond
strengthened on its first day of official trading
on Friday after becoming sub-Saharan Africa's most
successful bond launch with bids worth more than
15 times the amount on offer.
SOUTH SUDAN OIL
South Sudan may resume pumping oil as soon as
November, China's ambassador to Africa said,
adding Beijing was optimistic leaders in Juba will
soon reach pricing terms with Sudan on piping
crude through the country from which it recently
split.
MAURITIUS T-BILL
The weighted average yield on Mauritius' 364-day
Treasury bills was unchanged at 3.92 percent at
auction on Friday, the central bank said.
SOMALIA PRESIDENT
Somalia's new president Hassan Sheikh Mohamud took
office on Sunday, calling for an end to terrorism
and piracy in a nation mired in conflict for more
than two decades.
Comments
Post a Comment