(REUTERS) The following company announcements, scheduled economic
indicators, debt and currency market moves and political events
may affect African markets on Wednesday.
KENYA – The central bank sells 182- and 364-day Treasury bills.
SOUTH AFRICA – Sep-17 inflation and Aug-17 retail sales data expected.
Asian shares consolidated recent gains and currencies kept
to tight ranges on Wednesday as investors waited to see what
policies might emerge from China’s Communist Party
WORLD OIL PRICES
Oil prices rose on Wednesday, lifted by a fall in U.S. crude
inventories and concerns that tensions in the Middle East
could disrupt supplies.
SOUTH AFRICA MARKETS
South African government bonds weakened and the rand
extended losses against the dollar on Tuesday after
President Jacob Zuma reshuffled his cabinet.
Annual inflation in Nigeria slowed for an eighth month in
September, easing to 15.98 percent, the National Bureau of
Statistics (NBS) said on Tuesday.
NIGERIA FOREX RESERVES
Nigeria’s foreign exchange reserves rose to the highest in
almost three years as of Oct. 12, hitting $33.11 billion,
central bank data showed on Tuesday.
Kenya’s shilling was steady on Tuesday, but was
expected to come under pressure due to increased importer
dollar demand from most sectors and political uncertainty
ahead of a presidential re-run vote next week, traders said.
Kenya’s opposition leader Raila Odinga decided not to stand
in next week’s presidential election to avoid defeat rather
than for reasons of principle, the deputy president said on
ZAMBIA FUEL PRICES
Zambia announced an increase in the retail price of fuel on
Tuesday, citing rising international oil prices and
depreciation of the kwacha.
Zimbabwe banned fruit and vegetable imports on Tuesday to
preserve its dwindling reserves of hard currency, drawing
immediate warnings of food shortages.