The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. - - - - -
EVENTS * Reuters Africa Investment Summit begins * Mauritius inflation data for March GLOBAL MARKETS Japanese shares were slugged on Monday by a one-two combination of a higher yen and a sell-off in the tech sector, while the euro struggled with speculation of more policy easing at home. WORLD OIL PRICES Brent crude prices fell below $106 a barrel on Monday, snapping a two-day winning streak, as worries about supply disruption eased after Libyan rebels occupying four eastern oil ports agreed to gradually end their eight-month old blockade.
EMERGING MARKETS AFRICA STOCKS SOUTH AFRICA MARKETS * The rand hit a three-month high against the dollar on Friday, gaining in a knee-jerk reaction to a U.S. jobs report that slightly missed market expectations, and taking bond yields lower.
* South African stocks rebounded slightly on Friday, tracking global markets which were upbeat on steady U.S. jobs growth. NIGERIA MARKETS * Nigeria has overtaken South Africa as Africa's largest economy after a rebasing calculation almost doubled its gross domestic product to more than $500 billion, data from the statistics office showed on Sunday. KENYA MARKETS * The Kenyan shilling KES= eased on Friday as importers from the energy sector and some commercial banks bought dollars to cover short positions ahead of the weekend, traders said, while stocks edged marginally lower.
KENYA BANKS Kenyan lenders look set to chalk up more bad debts after they ticked up last year as higher rates bit and payments were withheld from government contractors during the east African country's political transition. AFRICA BONDS * The Bank of Ghana said on Friday that the yield on its 91-day bill rose to 23.9862 percent at its April 4 auction from 23.6876 percent at the last auction.
Source: Reuters Africa
* The weighted average yield on Mauritius' 364-day Treasury bills fell to 3.07 percent on Friday from 3.30 percent at the previous sale, the central bank said. MOZAMBIQUE INFLATION Mozambique's consumer inflation quickened to 3.0 percent year-on-year in March, from 2.38 percent in February, data from the statistics agency showed on Friday.