The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
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*INFLATION – The statistics offices in Seychelles, Mauritius
and Ethiopia are expected to release their August’s consumer
price index data.
The Japanese yen, gold and sovereign bonds all rose on
Monday as North Korea’s latest nuclear test provoked the
usual knee-jerk shift to safe havens, though equity losses
were modest amid expectations the flare-up would prove
WORLD OIL PRICES
Oil markets were volatile on Monday, supported by shutdowns
of U.S. production following Hurricane Harvey, but pressured
by an expected downturn in crude demand as the storm knocked
out refineries along the Gulf of Mexico coast.
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SOUTH AFRICA MARKETS
South Africa’s rand raced to its firmest in more than a
month on Friday as traders eased their dollar holdings and
bought the local currency after the United States reported
weaker than expected employment growth.
Africa’s two biggest economies likely emerged from recession
in the second quarter but strong growth won’t show up until
business confidence is restored, a Reuters poll suggested on
Kenya’s Supreme Court on Friday nullified President Uhuru
Kenyatta’s election win, citing irregularities, and ordered
a new poll within 60 days, an unprecedented move in Africa
where governments often hold sway over judges.
Kenya’s shares and dollar bonds plummeted on Friday and its
currency fell after the country’s Supreme Court declared
President Uhuru Kenyatta’s election victory invalid.
Kenya’s opposition leader Raila Odinga said on Sunday that
his coalition will not share power, two days after the
Supreme Court annulled last month’s presidential election
and ordered a new poll within 60 days.