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African Markets - Factors to watch on Sept 4
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African Markets - Factors to watch on Sept 4
Sep 6, 2024 12:38 AM

NAIROBI, Sept 4 (Reuters) - The following company

announcements, scheduled economic indicators, debt and currency

market moves and political events may affect African markets on

Wednesday.

- - - - -

GLOBAL MARKETS

Asian shares and global stock futures tumbled on Wednesday,

led by a heavy decline in technology names and as worries

about the global growth outlook drove investors out of risky

assets, while oil prices hit multi-month lows.

WORLD OIL PRICES

Oil prices fell on Wednesday, extending a plunge of more

than 4% the previous day, on expectations that a political

dispute halting Libyan exports could be resolved and

concerns over lower global demand growth.

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

The South African rand weakened on Tuesday after data showed

the country's second-quarter economic growth was slightly

weaker than expected.

NIGERIA CHINA INVESTMENTS

China vowed to encourage its more "powerful" companies to

invest in Nigeria, which in turn said it was open to Chinese

companies building factories and developing its energy and

mineral resources, after the two nations' leaders met in

Beijing.

KENYA MARKETS

Kenya's shilling was unchanged on Tuesday, and

traders said it was expected to strengthen, helped by tea

export dollar inflows.

UGANDA POLITICS

Uganda's main opposition leader Bobi Wine, who has emerged

as the most formidable opponent of veteran President Yoweri

Museveni, was shot in the leg by security agents in a

northern suburb of the capital Kampala on Tuesday, his party

said.

ETHIOPIA AIRLINE

Ethiopian Airlines said on Tuesday it had suspended flights

to neighbouring Eritrea because its bank account there was

frozen.

ANGOLA CHINA FINANCING

China needs to step up its financing for Angola if the

African nation is to absorb more Chinese-made goods from

solar panels to electric cars, Angola's finance minister

said on Tuesday, as the former OPEC member considers vying

bids from Beijing and Europe.

For the latest precious metals report click on

For the latest base metals report click on

For the latest crude oil report click on

(Compiled by Nairobi Newsroom)

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