African Markets Highlight for Today Feb, 12.

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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.

GLOBAL MARKETS

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.

UGANDA ECONOMY

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.

NIGERIA’S ECONOMY

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.

KENYA’S ECONOMY

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+’.

 GHANA’S ECONOMY

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

ANGOLA’S CRUDE

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”.

 

Source- Reuters