Nigeria Content Online

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

– – – – –

EVENTS

DAR ES SALAAM – Tanzania to auction Treasury bills of all maturities. The weighted average yield on Tanzania’s 91-day treasury bill rose to 5.48 percent at the last auction from 4.99 percent previously.

GLOBAL MARKETS

Asian stocks slid on Wednesday following a broad commodities sell-off but the U.S. dollar edged higher after stronger-than expected U.S. factory data offered further evidence of an economic recovery. [ID:nL3E7C500Q]

AFRICAN MARKETS

For all the latest news on African stocks click on [.J]

SOUTH AFRICA MARKETS

South Africa’s rand fell as much as 1.2 percent against the dollar on Tuesday as import pressure built up after the holidays, while government bonds rallied on expectations that interest rates will be cut this month. [ID:nLDE7031F5]

IVORY COAST CRISIS

Ivory Coast’s Laurent Gbagbo has agreed to further talks to end his country’s post-election crisis, buying himself time after a demand by African leaders that he step down or face force. [ID:nLDE7030WA]

NIGERIA MARKETS

Nigeria’s all-share index rose to its highest level since late November on Tuesday with banks leading the charge after the state-run Asset Management Corporation of Nigeria (AMCON) issued bonds to enable it to buy up bad loans.

The index of Nigeria’s top ten banks rose 3.27 percent, helping lift the broader index 1.34 percent to 25,102.93 points on the first trading day of the year.

NIGERIA POLITICS

A Nigerian opposition party on Tuesday confirmed ex-military ruler Muhammadu Buhari as its presidential candidate for April elections, set to be the most fiercely contested since the return to democracy 12 years ago. [ID:nLDE7031OT]

KENYA MARKETS

The Kenyan shilling KES= recouped earlier losses against the dollar to finish unchanged while banks led stocks to meager gains on the back of expectations they will benefit from higher growth. [ID:nLDE70312R]

KENYA CORRUPTION

A Kenyan government minister pleaded not guilty to a dozen counts of abuse of office on Tuesday, hours after resigning to allow for an investigation into a scam involving imports of untaxed vehicles. [ID:nLDE70302R]

GHANA POLITICS

Ghanaian President John Atta Mills reshuffled his cabinet on Tuesday but kept key positions like foreign affairs, finance and defence unchanged, according to a press release issued by his office. [ID:nLDE7031OO]

SEYCHELLES ECONOMY

Seychelles’ economic growth is expected to moderate to 5 percent by 2013, but vigilance is needed against inflationary and exchange rate risks, the International Monetary Fund said. [ID:nLDE70401A]

COMMODITIES

For the latest precious metals report click on [GOL/]

For the latest base metals report click on [MET/L]

For the latest crude oil report click on [O/L]