October 16, 2019 / 4:53 AM / a month ago

African Markets - Factors to watch on Oct 16

    NAIROBI, Oct 16 - The following company announcements, scheduled economic indicators, debt
and currency market moves and political events may affect African markets on Wednesday.
                    - - - - -
 EVENTS:
 Kenya to inaugurate the second leg of Chinese-built railway
 UN Refugee agency head arrives in Zambia on southern Africa
 tour
 
 GLOBAL MARKETS
 Asian shares inched higher while sterling came off
 five-month highs in volatile trade on Wednesday as investors
 looked to whether Britain can secure a deal to avoid a
 disorderly exit from the European
 Union.                       
 
 WORLD OIL PRICES
 Oil prices rose on Wednesday, tracking gains in equities, as
 investors pinned hopes on a potential Brexit deal between
 Britain and the European Union and on signals from OPEC and
 its allies that further supply curbs could be
 possible.                 
 
 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 steadied in late trade on Tuesday,
 struggling for momentum as fading optimism over the latest
 China-U.S. trade truce weighed on risk appetite, while
 stocks rose, led by chemicals firm Sasol SOLJ.J.            
 
 NIGERIA MARKETS
 Higher food prices helped push up annual inflation in
 Nigeria last month after three consecutive months of
 declines, the National Bureau of Statistics said on
 Tuesday.             
 
 KENYA MARKETS
 The Kenyan shilling        strengthened against the dollar
 on Tuesday with inflows from diaspora remittances and
 tightening liquidity in the local money market easing dollar
 demand from merchandise importers, traders said. 
 
 KENYA ECONOMY
 Kenya's economy is expected to expand by 5.6% this year and
 6.0% in 2020, the International Monetary Fund said on
 Tuesday, lowering its forecasts from earlier this
 year.            
 
 COCOA INDUSTRY DILEMMA
 Ivory Coast and Ghana's threat to possibly halt the cocoa
 industry's ethical branding schemes poses a major risk to
 chocolate makers operating in Western markets where consumer
 demand for sustainably sourced products is
 rising.            
 
 
 
 
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 (Compiled by Nairobi Newsroom)
  
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