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Africa, Forex

African Markets – Factors to watch on Sept. 28

Sept 28 – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. – – – – – *Events: The Kenyan central bank’s Monetary Policy Committee will announce its latest benchmark lending rate decision. At its last meeting in July, the bank held the rate at 7.0%. GLOBAL MARKETS Asian shares mainly drifted lower Tuesday as investors continued to fret over China Evergrande Group’s 3333.HK unsolved debt crisis and eyed the potential impact of a widening power shortage in China. WORLD OIL PRICES Oil markets rose on Tuesday, reversing earlier losses and extending their rally into a sixth session, amid continued concerns over tight supply at a time when demand is picking up with the easing of COVID-19 pandemic restrictions. EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on African stocks, click on CONGO-COBALT Democratic Republic of Congo’s state cobalt buyer and China’s biggest cobalt refiner are in talks to end a dispute over a mine at the heart of Congo’s efforts to clean up its supply of the metal and reassure car and battery makers that rely on it. SOUTH AFRICA MARKETS The South African rand ended stronger after a volatile day of trading on Monday, helped by receding fears of widespread market contagion from indebted Chinese developer Evergrande 3333.HK. KENYA MARKETS The Kenyan shilling KES= was stable in trade on Monday but traders said there was still some unmet demand for dollars in the market. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on

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