Market News
African Markets – Factors to watch on Oct 9 - REUTERS
Oct 9 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.
EVENTS:
Mozambicans talks about their hopes and fears as the country votes in presidential and parliamentary elections.
Nigeria’s Federal High Court in Abuja will rule on whether to release on bail Binance’s head of financial compliance Tigran Gambaryan or keep him in prison custody while he undergoes trial on money laundering charges, which he denies.
Kenya’s central bank governor holds a news conference a day after announcing the bank’s latest lending rate decision.
GLOBAL MARKETS
Mainland Chinese stocks returned from an extended break with a roaring start on Tuesday, scaling multi-year highs as investor exuberance over Beijing’s aggressive stimulus measures showed no signs of easing.
WORLD OIL PRICES
Oil prices steadied in Asian trading on Wednesday as traders weighed developments in the Middle East conflict against continued bearish expectations for demand.
SOUTH AFRICA MARKETS
The South African rand weakened on Tuesday, and is likely to take direction from U.S. inflation data and minutes from the Federal Reserve’s September meeting due this week.
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KENYA MARKETS
Kenya’s shilling was unchanged against the dollar on Tuesday, data from the London Stock Exchange Group showed.
KENYA POLITICS
Kenya’s parliament voted on Tuesday to impeach Deputy President Rigathi Gachagua on charges including enriching himself and stirring ethnic hatred, the chamber’s speaker said, paving the way for the senate to consider the motion.
MOZAMBIQUE ELECTION
Mozambique votes on Wednesday in a tense general election highly likely to deliver victory to the ruling party, Frelimo, which has governed the Southern African nation since 1975.
((Compiled by Nairobi Newsroom))