African Markets - Factors to watch on Aug 24 - Reuters

August 24, 2016
NAIROBI, Aug 24 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.
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EVENTS
*KENYA - The central bank auctions a 10-year Treasury bond worth 25 billion Kenyan shillings. Also on sale will be Treasury bills of 182-, and 364-day tenors worth a combined 12 billion shillings.

*ZAMBIA - The statistics office is expected to release the country's August consumer price inflation data any time starting today.

GLOBAL MARKETS
Asian stocks consolidated recent gains on Wednesday, helped by Wall Street's rise overnight, even as oil prices slid after a surprise build in U.S. crude stocks.

WORLD OIL PRICES
Oil prices fell early on Wednesday as an unexpected build in U.S. crude stocks weighed on markets, along with concerns that Chinese crude demand could falter as Beijing clamps down on alleged tax evasion in the oil industry.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa's rand plunged nearly three percent on reports that Finance Minister Pravin Gordhan had been ordered to report to a special police unit by the end of the week.

KENYA MARKETS
The Kenyan shilling was steady against the dollar on Tuesday as inflows from offshore investors buying government securities soaked up dollar demand from goods importers.

NIGERIA BANKS
Nigeria's central bank has suspended nine banks from the interbank currency market for failing to remit money owed to the government, banking sources told Reuters on Tuesday.

NIGERIA SECURITY
Nigeria's air force said it had killed a number of senior Boko Haram fighters and possibly their overall leader, and U.S. Secretary of State John Kerry pledged to consider ways to ramp up military assistance to Nigeria to defeat the militant group.

GHANA EXTERNAL AID
The International Monetary Fund said on Monday it was reassessing Ghana's macroeconomic and fiscal outlook in light of new legislation that could breach a key requirement of its $918 million loan package for the West African country.

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Steven Rich
Sep 17, 2018:
Well done
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