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African Markets - Factors To Watch on Jan 31
calendar01-02-2012 | linkReuters | Share This Post:

01/02/2012 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.

EVENTS:
* Nigeria's Monetary Policy Committee holds rate setting meeting. It is expected to leave its key interest rate unchanged.               
* Kenyan January inflation due on Tuesday, seen slowing to 18 percent from 18.93 percent.               
* Ugandan January inflation data due at 0800 GMT. Also expected to slow from 27 percent in December.
* Senegal opposition plans protest against decision to let President Abdoulaye Wade seek a third mandate.
* Botswana to auction 14-day Treasury bills.
 
GLOBAL MARKETS
* Asian shares and the euro recovered earlier losses on Tuesday after  Greek Prime Minister Lucas Papademos raised hopes for a deal to be  reached this week to avoid a default, but markets were starting to  worry that Portugal might need a second rescue.               
 
WORLD CRUDE OIL PRICES
* Brent crude inched above $111 a barrel on Tuesday, on track for its first rise in two months, as concerns over supply from Iran and South Sudan trumped worries about a global economic slowdown that could hit oil demand.               
 
SENEGAL POLITICS
* Senegalese President Abdoulaye Wade's bid for a third mandate in next month's election, which has triggered a number of protests, could endanger his country's record of democracy and stability, the United States warned on Monday.               
 
EMERGING MARKETS
* For the top emerging markets news, double click on           
 
AFRICA MONEY COLUMUN
* The 'sum of zeroes' game has a new player - Zambia, which has become the latest country to redenominate its currency by lopping off a string of noughts.               
 
AFRICA STOCKS
* For the latest news on African stocks, click on    
 
AFRICA FIXED INCOME
* For African debt look ahead, click on               
 
SOUTH AFRICA MARKETS
* South Africa's rand fell more than 1 percent on Monday as investors globally shunned risky assets and data showing a narrowing budget deficit failed to encourage investors as public finances are expected to be under pressure over the next few years.
* South African stocks fell for a second day on Monday, giving up nearly 1 percent as investors booked profits after a January rally that pushed Johannesburg's broadest index to a string of lifetime highs.
 
NIGERIA MARKETS
* The Nigerian naira eased against the U.S. dollar on the interbank market and at the central bank's bi-weekly forex auction on monday on strong dollar demand from importers.               
 
NIGERIA TELECOMS
* A Nigerian court has ruled that Bharti Airtel's ownership of its subsidiary Airtel Nigeria is "null and void" because co-founder and 5 percent shareholder Econet Wireless was not consulted on the transfer, according to a judgement seen by Reuters on Monday.
                 
KENYA MARKETS
* The Kenyan shilling strengthened against the dollar on Monday as investors sought to profit from high interest rates but traders said it could fall under pressure from importer demand as the month draws to a close.               
* Kenyan central bank to hold rates as inflation falls.
* Crisis-hit car distributor CMC swings to full year loss
               
KENYA FINANCE BILL
* Kenya's government will seek a compromise with parliamentarians over demands to cap bank lending rates that are holding up budget finance legislation, incoming acting Minister of Finance Robinson Githae said on Monday.                
 
GHANA MARKETS
* Ghana's cedi was relatively stable against the dollar on Monday as corporate demand for greenbacks eased following recent strong interventions from the central bank, traders said.     
* Shares in Ghanaian oil palm producer Benso Oil Palm Plantation jump nearly 13 percent after it reports net profits for the 12 months to December had more than tripled.               
* Ghana 91-day bill yield rises to 10.96 percent.               
 
ANGOLA POLITICS
* Angola's president has moved the head of state oil firm Sonangol into the government to coordinate economic policy, state news agency Angop reported, a move likely to fuel speculation that Manuel Vicente has been selected to succeed Eduardo dos Santos.               
 
ZAMBIA LIBYA
* Libya will do all it can to protect its 75 percent stake in  Zamtel, the fixed-line telecoms firm in Zambia, whose government announced plans last week to seize Libya's stake in the firm, Libyan Foreign Minister Ashour bin Khayyal said on Monday.