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African Markets – Factors to watch on Sept 13 - REUTERS

SEPTEMBER 13, 2024

Sept 13 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

GLOBAL MARKETS

The dollar on Friday slumped against the yen while gold hit an all-time peak as investors ratcheted up bets for a super-sized Federal Reserve interest rate cut next week after media reports suggested the decision was a tough one for officials.

WORLD OIL PRICES

Oil prices rose on Friday, extending a rally sparked by output disruptions in the U.S. Gulf of Mexico, where Hurricane Francine forced producers to evacuate platforms before it hit the coast of Louisiana.

SOUTH AFRICA MARKETS

South Africa’s rand inched higher against a weaker dollar on Thursday, with the next big local drivers – inflation data and an interest rate decision – due next week.

KENYA MARKETS

The Kenyan shilling was flat on Thursday despite a slight pickup in foreign-currency demand, and traders said it was expected to remain in a tight range.

AFRICA MARKETS

The Kenyan, Ugandan, Ghanaian and Zambian currencies are expected to be broadly stable in the next week to Thursday, while Nigeria’s could fall, traders said.

UN AFRICA

The United States supports creating two permanent United Nations Security Council seats for African states and one seat to be rotated among small island developing states, U.S. Ambassador to the U.N. Linda Thomas-Greenfield announced on Thursday.

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SENEGAL POLITICS

Senegal President Bassirou Diomaye Faye on Thursday dissolved the opposition-led national assembly, clearing the way for early legislative elections on Nov. 17.

AFRICA MPOX

The Africa Centres for Disease Control and Prevention (Africa CDC) is able to raise $600 million to fight a surging mpox outbreak on the continent, the agency’s head said on Thursday.

((Compiled by Nairobi Newsroom))

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