African market factors Jan. 10

Business & Economy
The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Wednesday.
  - - - - -    
 GLOBAL MARKETS
 Asian shares flinched from testing their 2007 record peak on
 Wednesday, as investors booked profits in high-tech shares
 while oil prices hit three-year highs due to production cuts
 and a fall in inventories.
            
 
 WORLD OIL PRICES
 Oil prices hit their highest levels since 2014 on Wednesday
 due to ongoing production cuts led by OPEC as well as
 healthy demand, although analysts cautioned that markets may
 be overheating.   
 
 SOUTH AFRICA MARKETS
 South Africa's rand strengthened on Tuesday, touching its
 highest level in two sessions, after rumours that President
 Jacob Zuma had stepped down spurred a temporary rally in the
 currency against the greenback. 
             
 
 SOUTH AFRICA POLITICS
 South African President Jacob Zuma said on Tuesday he will
 set up a commission of inquiry into allegations of
 influence-peddling, after a 2016 anti-graft report called
 for a judge to investigate any corruption in his government.
             
 
 EAST AFRICA POWER
 A major power blackout hit Kenya's capital Nairobi and its
 central, western and coastal regions on Tuesday, while
 several parts of neighbouring Uganda also had an electricity
 outage.

Reuters
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