The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Wednesday.
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GLOBAL MARKETS
Stocks slipped in Asian trade on Wednesday as investors
awaited the signing of an initial U.S.-China trade deal,
with sentiment somewhat dented by comments from the U.S.
Treasury Secretary that tariffs would remain in place for
now. MKTS/GLOB
WORLD OIL PRICES
Oil prices slipped on Wednesday on concerns that the pending
Phase 1 trade deal between the United States and China, the
world's biggest crude users, may not lead to more fuel
demand as the U.S. intends to keep tariffs on Chinese goods
in place. O/R
EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand slumped to a one month-low on Tuesday,
as data pointed to continued weakness in the economy, while
a surge in Woolworths Holdings WHLJ.J and Old Mutual
OMUJ.J led stocks higher. MARKETS
The Kenyan shilling KES= firmed against the dollar on
Tuesday supported by inflows from offshore investors buying
stocks and government debt amid thin importer demand,
traders said. ECONOMY
Kenya's president confirmed on Tuesday his acting finance
minister would take the job permanently, during a cabinet
reshuffle that put his allies in key positions amid a
growing power struggle between the president and his
deputy. OIL
Shares in Nigerian oil company Lekoil Ltd LEK.L plunged
more than 70% on Tuesday following a suspension of trading
after the firm discovered that a $184 million loan it had
announced was fraudulent.
SECURITY
Armed ex-security agents linked to Sudan's toppled ruler
Omar al-Bashir fought soldiers in the capital Khartoum for
hours until government forces quelled the revolt late on
Tuesday, residents and a military source said.
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