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Africa, Forex

African Markets – Factors to watch on Sept 11

NAIROBI, Sept 11 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. – – – – – EVENTS: *Former rebel leader Machar inSouth Sudan capital for third day of talks with president over stalled peace deal. GLOBAL MARKETS Bond yields climbed and stock markets held steady on Wednesday, as hopes of easing U.S.-China tensions and diminished risk of a no-deal Brexit prompted traders to take profit before key central bank meetings. WORLD OIL PRICES Oil prices traded higher on Wednesday after an industry report said U.S. crude stockpiles fell last week by more than twice the amount that analysts in a Reuters poll had forecast. 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 South Africa’s rand firmed on Tuesday, buoyed by improved investor appetite for riskier assets and comments from ratings agency Moody’s that the country is unlikely to suffer a credit downgrade to junk in the short term. KENYA MARKETS The Kenyan shilling KES= strengthened against the dollar on Tuesday supported by tightening liquidity in the local money market and reduced dollar demand from oil importers, traders said. SOUTH AFRICA RATINGS South Africa is unlikely to suffer a credit downgrade to junk in the short term, but the slow pace of reform illustrated by a logjam over ailing state power firm Eskom poses a serious risk, ratings firm Moody’s said on Tuesday. SOUTH AFRICA NASPERS South African e-commerce group Naspers NPNJn.J is listing its global empire of consumer internet assets under the name of Prosus PRX.AS on Wednesday – and the jewel in the crown is a 31% stake in Chinese tech titan Tencent 0700.HK. 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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