(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market moves and political
events may affect African markets on Wednesday.
SOUTH AFRICA – Retail sales data for April due.
BOTSWANA – Inflation data for May expected.
GHANA – Inflation data for May due.
NAMIBIA – Interest rate decision expected.
Asian shares turned mixed on Wednesday as investors
everywhere awaited clarity on the Federal Reserve’s future
path for U.S. policy after a likely rate rise later in the
WORLD OIL PRICES
Oil prices fell by one percent early on Wednesday after data
showed a build in U.S. crude stocks and OPEC reported a rise
in its production despite its pledge to cut back.
SOUTH AFRICA MARKETS
South Africa’s rand inched higher on Tuesday, adding to the
previous session’s gains, with political and economic
uncertainty in Britain and the United States encouraging
investors to search for higher yields elsewhere.
Nigeria plans to sell a 100 billion naira ($328 mln) debut
sovereign sukuk in the local market this month to help fund
road projects, the Debt Management Office (DMO) said on
Kenya’s shilling was little changed against the dollar
on Tuesday, but was seen under pressure due to a general
increase in dollar demand, especially from the energy
sector, traders said.
Tanzania’s central bank announced new rules on Tuesday for
capital conservation buffers, a move that will force banks
to hold more capital to withstand financial shocks following
a sharp rise in non-performing loans.
Zimbabwe has banned grain imports to protect local farmers
after producing enough to meet domestic demand, a government
minister said on Tuesday, just a year after a devastating
drought left more than 4 million people in need of food aid.