African Markets - Factors to watch on May 7
NAIROBI, May 7 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. - - - - - EVENTS: *NAIROBI - Central Bank of Kenya auctions 182-day and 364-day Treasury bills worth 6 billion shillings. *MAURITIUS - Mauritius releases inflation data for April. GLOBAL MARKETS Asian shares fell to a one-month low and the safe-haven yen hovered just below a multi-month high against the dollar in early trade on Wednesday as the heightened possibility of Ukraine slipping into civil war dampened risk sentiment. WORLD OIL PRICES Brent crude edged higher above $107 per barrel on Wednesday after an industry report showed U.S. crude stocks declined last week, while increasing geopolitical risks in Ukraine helped put a floor under prices. EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on African stocks, click on SOUTH AFRICA MARKETS South Africa's rand firmed against a broadly weaker dollar as some risk appetite returned to emerging markets on Tuesday, but the local currency was expected to stay within a narrow range ahead of a national election. South African stocks ended flat on Tuesday ahead of a national election but shares of Mediclinic International soared after the private hospital group said its annual earnings likely more than quadrupled. NIGERIA SECURITY Suspected Boko Haram gunmen kidnapped eight girls from a village near one of the Islamists' strongholds in northeastern Nigeria overnight, while the United States made plans on Tuesday to help search for more than 200 schoolgirls seized by the militant group last month. CHINA NIGERIA RAIL CONTRACT China Railway Construction Corp Ltd has signed a $13.1 billion deal to build a high-speed railway in Nigeria, as China's pushes to develop fast rail and other infrastructure projects on the continent. KENYA MARKETS Kenya's main share index crept up on Tuesday, supported by a jump in the share price of cement-maker Bamburi , while the shilling finished the day unchanged. UGANDA ECONOMY Uganda's anti-gay law is having little impact on its ability to attract investment from Western economies and investors, its finance minister said on Tuesday. UGANDA ELECTRICITY Uganda's sole power distributor, Umeme Ltd , said on Tuesday it had suspended trade in its shares on the Kenyan and Ugandan bourses pending the sale of a major stake by a key shareholder. SOUTH SUDAN UNREST The United States on Tuesday imposed sanctions on two people on opposing sides of the ethnic violence in South Sudan, showing the growing frustration in Washington with leaders in an African country it helped create. U.N. Secretary-General Ban Ki-moon said on Tuesday South Sudan's rebel leader Riek Machar had been invited to Ethiopia for peace talks and would "try his best" to go by the end of the week. MADAGASCAR IMF LOAN Madagascar would be able to access up to $47.4 million under a loan program from the International Monetary Fund to help the Indian Ocean island boost economic growth and reduce poverty, the IMF said on Tuesday. MADAGASCAR OIL EXPLORATION Austrian oil and gas group OMV signed an agreement to participate in two onshore blocks in Madagascar, a market it entered last year, it said in a statement on Wednesday. GUINEA MINING Brazilian mining group Vale has started legal proceedings against its partner in Guinea, BSG Resources (BSGR), seeking to recoup at least part of the $1.1 billion it allegedly has lost, having been stripped of mining rights in the country, two sources familiar with the matter said. ZAMBIA CURRENCY Zambia's kwacha hit its weakest point on record against the dollar on Tuesday, after falling copper prices tightened foreign exchange inflows into Africa's second largest producer. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on
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