African Markets – Factors to watch on Sept 17

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

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GLOBAL MARKETS

The dollar was on the defensive, shares edged lower, and gold scaled new heights on Wednesday as global markets counted down to an anticipated rate cut by the Federal Reserve later in the day and waited on signals around the extent of future easing.

WORLD OIL PRICES

Oil prices held steady in early trading on Wednesday, after rising more than 1% in the previous session on drone attacks on Russian ports and refineries, while traders awaited an expected rate cut from the U.S. Federal Reserve.

EMERGING MARKETS

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AFRICA STOCKS

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SOUTH AFRICA MARKETS

The South African rand was muted on Tuesday, as domestically focussed investors awaited the release of inflation data and an interest rate decision later this week.

CHAD POLITICS

Chad’s national assembly has endorsed constitutional revisions that would extend the presidential term from five to seven years and allow the president to serve an unlimited number of times.

ANGOLA RATES

Angola’s central bank cut its main interest rate on Tuesday, after keeping it unchanged for seven meetings in a row, saying inflation was slowing in line with its forecasts.

CAMEROON COCOA

Black pod disease is ravaging cocoa plantations in Cameroon’s Southwest region, one of the country’s top cocoa belts, driven by weeks of heavy rains and a surge in counterfeit agrochemicals, an official and industry figures said on Tuesday.

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((Compiled by Nairobi Newsroom))

((Email: nairobi.newsroom@thomsonreuters.com))