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African Markets – Factors to watch on Sept 11 - REUTERS

SEPTEMBER 11, 2024

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:

West Africa’s central bank, the BCEAO, is expected to announce its rate decision.

The Kenya Aviation Workers’ Union are due to start a strike notice on Wednesday about the planned lease of airport operations to the Indian company Adani Holdings.

GLOBAL MARKETS

Asian markets wobbled and U.S. stock futures slipped on Wednesday after Democratic Vice President Kamala Harris and Republican Donald Trump clashed in a keenly-awaited U.S. presidential debate.

WORLD OIL PRICES

Crude prices bounced on Wednesday as concerns about Tropical Storm Francine disrupting supply of oil outweighed worries about demand.

SOUTH AFRICA MARKETS

The South African rand weakened alongside other emerging market currencies on Tuesday, with markets looking to Wednesday’s U.S. inflation print for clues about the Federal Reserve’s interest rate path.

KENYA MARKETS

The Kenyan shilling was broadly steady against the U.S. dollar on Tuesday, with the supply of foreign exchange matched by demand from all sectors in a muted session, traders said.

KENYA STRIKE

The biggest union of Kenya’s aviation workers plans to go on strike on Wednesday to protest against a proposed deal for India’s Adani Group to lease the country’s main airport for 30 years in exchange for expanding it, a union official said on Tuesday.

NIGERIA FLOODS

Floods in north Nigeria have killed more than 80% of animals in a large zoo with an array of wildlife from lions and crocodiles to buffaloes and ostriches, the facility said on Tuesday.

((Compiled by Nairobi Newsroom))


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