African Markets - Factors to watch on Aug 19
NAIROBI, Aug 19 (Reuters) -The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.
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EVENTS: Kenya Airways, one of Africa's three biggest carriers, will release its half-year results for 2024. GLOBAL MARKETS Asian stocks edged up and the dollar slid on Monday after global equities enjoyed their best week in nine months on expectations the U.S. economy would dodge a recession and cooling inflation would kick off a cycle of interest rate cuts. MKTS/GLOB WORLD OIL PRICES Oil prices eased in early Asian trading on Monday as fears of weaker demand in top oil importer China weighed on market sentiment while investors focus on the progress of ceasefire talks in the Middle East, which could reduce supply risks. O/R EMERGING MARKETS For the top emerging markets news, double click on nTOPEMRG AFRICA STOCKS For the latest news on African stocks, click on .J SOUTH AFRICA MARKETS South Africa's rand was on course for gains of over 2% this week, while stocks hit a record high in intra-day trade on Friday, as upbeat U.S. economic data allayed fears of an imminent recession in the world's top economy. KENYA MARKETS Kenya's shilling was stable against the U.S. dollar on Friday, but traders said they expected it to come under pressure from foreign-currency demand from the manufacturing sector. SOUTHERN AFRICA DROUGHT About 68 million people in Southern Africa are suffering the effects of an El Nino-induced drought which has wiped out crops across the region, the regional bloc SADC said on Saturday. SUDAN POLITICS Sudan's government said it will send a delegation to Cairo for discussions with U.S. and Egyptian officials on Monday, keeping open the question of participation in peace talks aimed at ending a 16-month war. KENYA AIRPORTS The biggest union of Kenya's aviation workers has postponed for two weeks a planned strike that was scheduled to start on Monday, to allow talks with the government over a proposed deal with an Indian company to develop the country's main airport. MALI ECONOMY Four years after the military ousted Mali’s then-president and came to power, many residents say economic troubles are worsening and constant power cuts are hurting businesses. For the latest precious metals report click on GOL/ For the latest crude oil report click on O/L |
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