#Africa #Markets – Factors to watch on Aug 23

NAIROBI, Aug 23 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Wednesday.

——–//

SOUTH AFRICA – Consumer inflation data for July expected.

ZAMBIA – Inflation data for August expected.

——-//

GLOBAL MARKETS
Asian stocks steadied on Wednesday, taking a breather after
the previous day’s surge and unable to keep up with a global
rally spurred by gains for tech shares on Wall Street and
miners in Europe.

WORLD OIL PRICES
Oil prices fell on Wednesday, weighed down by concerns of
oversupply as Libyan output improves and as U.S. gasoline
inventories rose despite the peak summer driving
season.

SOUTH AFRICA MARKETS
South Africa’s rand weakened on Tuesday as traders held
their positions ahead of local consumer price data on
Wednesday and the U.S. Federal Reserve’s annual central
banking conference.

SOUTH AFRICA ECONOMY
South African unions said on Tuesday they had agreed a
three-year wage deal for engineering workers, ending weeks
of difficult negotiations and averting an industry
strike.

SOUTH AFRICA ECONOMY
An outbreak of bird flu in South Africa threatens the
country’s poultry industry and jobs, Agriculture Minister
Senzeni Zokwana said on Tuesday after meeting with poultry
industry executives.

KENYA POLITICS
Kenya’s opposition will argue before the Supreme Court that
technology enabled rather than curbed election fraud, as it
seeks to overturn a vote this month won by President Uhuru
Kenyatta.

KENYA ECONOMY
Kenya’s Nairobi Securities Exchange NSE.NR posted a 6
percent drop in pretax profit for the first half of this
year after a jump in expenses outpaced revenue growth, it
said on Tuesday.

ANGOLA POLITICS
João Lourenço, Angola’s ruling party candidate for
president, said on Tuesday he would not be hamstrung by his
powerful predecessor if he wins election as he pledged to
revive Africa’s third largest economy and tackle rampant
corruption.

———//

BOTSWANA – Central bank keeps benchmark rate unchanged at 5.5%.

——–//

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