Tuesday August 4, 08:49 AM
African Markets - Factors to watch on August 4
August 4 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.
- - - -
GLOBAL MARKETS
Asian stocks climbed to an 11-month high on Tuesday on hopes a V-shaped recovery may be forming in the United States, while the Australian dollar hit its highest since late September after solid housing and retail sales data.
CLINTON-AFRICA
U.S. Secretary of State Hillary Clinton left on Monday for a seven-nation trip to Africa, pressing for more anti-corruption efforts but seeking to boost trade as China's influence rises on the continent.
Clinton will address U.S. and African officials who meet annually to discuss aspects of the legislation in question -- the U.S. African Growth and Opportunity Act (AGOA).
AFRICAN MARKETS
For the latest news on all African stocks click on
AFRICA INVESTMENTS
Africa has attracted almost $1 billion of net fund inflows this year, a reverse of the panic sell-off that hit the continent's nascent markets at the end of 2008 and early 2009, according to fund trackers EPFR Global.
SOUTH AFRICAN MARKETS
South African stocks on Monday powered to their highest level since September as surging metal prices buoyed mining stocks and fresh data pointed to an easing recession lifted global equities.
NIGERIA MARKETS
Nigeria's top fuel retailer and gas distributor Oando Plc plans to raise 200 billion naira ($1.3 billion) through debt and equity over the next two years to expand its business, a senior executive said on Monday.
KENYA MARKETS
The NSE 20 share Index shed 24.01 points on Monday to close at 3,249.09 points while the all-share index was down 0.10 points to close at 71.33 points.
Barclays Bank Kenya releases earnings results for first half of 2009, with pretax profit up 5 percent to 4.516 billion shillings ($58.99 million).
KENYA ECONOMY
Kenyan commercial bank lending rates will come down following a Monetary Policy Committee decision to cut a key rate and reduce the amount of cash that banks need to hold, the central bank governor said on Monday.
EAST AFRICA BREWERIES
A London High Court hearing on Tuesday will decide whether brewing giant SABMiller (LSE: SAB.L - news) can win an injunction to freeze a move by rival Diageo (LSE: DGE.L - news) to take a stake in a Tanzanian brewery and ending a key contract.
Kenya's East African Breweries (EABL), majority owned by Diageo, is seeking to acquire a stake in Tanzania's Serengeti Breweries which SABMiller claims is in breach of a contract between SABMiller and Diageo dating back to 2002. .
UGANDA OIL
Tullow Oil Plc said on Tuesday the Ngara-1 exploration well in Uganda encountered oil. The well, located in the Butiaba region of Uganda Block 2, found more than eight metres of net oil pay.
EMERGING MARKETS
For the top emerging markets news, double click on
COMMODITIES
For the latest precious metals report click on
For the latest base metals report click on
For the latest crude oil report
((Compiled by Nairobi newsroom)
($1=76.55 Kenyan Shilling)
Keywords: MARKETS AFRICA FACTORS/
COPYRIGHT
Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters (TRI.TO - news) .
NNNN
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
