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African Markets - Factors to watch on Sept 2
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African Markets - Factors to watch on Sept 2
Sep 1, 2024 9:58 PM

NAIROBI, Sept 2 (Reuters) - The following company

announcements, scheduled economic indicators, debt and currency

market moves and political events may affect African markets on

Monday.

- - - - -

GLOBAL MARKETS

Asian share markets got off to a quiet start on Monday as

investors braced for a data-packed week culminating in a U.S.

jobs report that could decide whether a rate cut expected

this month will be regular or

super-sized.

WORLD OIL PRICES

Oil prices extended losses on Monday with investors weighing

higher OPEC+ production from October against a sharp drop in

output from Libya amid sluggish demand in China and the U.S.,

the world's two biggest oil consumers.

EMERGING MARKETS

For the top emerging markets news, double click on

AFRICA STOCKS

For the latest news on South African stocks, click on

SOUTH AFRICA MARKETS

South Africa's rand was stable on Friday against a buoyant

dollar, after the local unit hit a fresh 13-month high

earlier in the day supported by improved investor sentiment

on signs the domestic economy is starting to gain

momentum.

NIGERIA PETROLEUM

Nigeria's state-oil firm NNPC on Sunday said it is facing

financial strain making it unable to import petrol into

Africa's most populous nation, that has seen weeks-long fuel

scarcity across its retail stations.

KENYA MARKETS

The Kenyan shilling was unchanged on Friday, with

little market activity, traders said.

KENYA INFLATION

Kenya's inflation edged up to 4.4% year-on-year

in August from 4.3% in July, data from the statistics office

showed on Friday.

CHINA AFRICA SUMMIT

China will urge a summit of 50 African nations in Beijing

this week to take more of its goods, before Western curbs

kick in on its exports such as electric vehicles and solar

panels, in exchange for more pledges of loans and

investment.

DEMOCRATIC REPUBLIC OF CONGO GOLD

Democratic Republic of Congo is looking for new buyers of

gold from its eastern territories after taking full control

of Primera Gold which had an exclusive contract to buy and

sell gold mined in the east, the company's head

said.

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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