Enterprise Television- African Markets Highlight for Today Feb, 12.
The following company announcements, scheduled economic indicators, debt and currency market moves which may affect African markets today.
Asian share markets found an appearance of cool on today as S&P futures extended their bounce, though global investors were still worrying about the risks from looming U.S. inflation data after last week’s sharp sell-off.
WORLD OIL PRICES
Oil prices rose by 1% on Monday, recovering at least some of last week’s steep losses as Asian stock markets found their footing after days of messy trading.
The central bank sets its benchmark lending rate at about 0800 GMT. The bank assumed the rate at 9.5% in December.
SOUTH AFRICA ECONOMY
South Africa’s rand firmed on Friday, recouping losses from the previous session as stockholders continued to gamble on the ruling African National Congress (ANC) unseating scandal-plagued President Jacob Zuma in the next few days.
Traders said, Nigerian stocks fell for a fifth straight to a three-week low, down 1.1% early in the session.
Nigeria’s central bank said on Friday it had inject $325.64 million into the interbank foreign exchange market as part of efforts to boost liquidity and reduce dollar shortages.
Traders said, The Kenyan shilling KES= was stable against the dollar on Friday supported by inflows from portfolio investors participating in the stock market and secondary market for government bonds.
Fitch Ratings has reviewed the Outlook on Kenya’s Long-Term Foreign- and Local-Currency Issuer Default Rating (IDR) to Firm from Negative and affirmed the IDRs at ‘B+’.
On Feb, 2 The Bank of Ghana says the yield on its weekly 91-day bill rose to 13.36% at an auction on Friday from 13.32% at the last such sale.
Government sources said, on Friday that, Ghanaian officials will meet investors in Asia next week to explore new markets for a $1 billion Eurobond sale this year
Secretary of State for Oil Paulino Jeronimo said, Legislation covering the rights of companies to explore and produce natural gas in Angola, Africa’s second largest crude producer, is “in its final stages”.