African Markets - Factors to watch on Sept 28

NAIROBI, Sept 28 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Monday.
- - - - -
EVENTS:
*GHANA - The central bank to announce its latest lending rate
decision.

GLOBAL MARKETS
Chinese stocks drove Asian markets higher on Monday, though
sentiment was still cautious ahead of a U.S. Presidential debate
and as a spike in new coronavirus cases undermined global
economic recovery hopes. MKTS/GLOB

WORLD OIL PRICES
Oil prices dipped on Monday as rising coronavirus cases upset
hopes for a smooth recovery in fuel demand, with the main crude
benchmarks on track for their first monthly falls in multiple
months after last week's slips. O/R

EMERGING MARKETS
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SOUTH AFRICA MARKETS
Shares on the Johannesburg Stock Exchange (JSE) fell sharply on
Friday, giving up gains made earlier in the week, amid concerns
that rising coronavirus cases around the world could delay
economic recovery. MARKETS
Nigerian stocks rose to a six-month high in late Friday trading
as funds switched into equities after the central bank this week
unexpectedly cut interest rates to spur growth in Africa's
biggest economy. The naira recovered from a low of 385.50 per dollar on the
official market on Friday after the central bank sold dollars to
stabilize the currency at its preferred level, traders
said. STRIKE
Nigerian labour unions agreed with the government on Monday to
suspend a planned strike over fuel and power price rises hours
before businesses were due to grind to a halt, the labour
minister and trade unions said. MARKETS
The Kenyan shilling KES= inched down against the dollar on
Friday as demand for hard currencies by firms built up towards
the end of the month, when they meet their
obligations. AFRICA CURRENCY
A planned new West African currency to replace the France-backed
CFA franc this year has been derailed by the coronavirus pandemic
and its launch could now be up to five years away, Ivory Coast's
President Alassane Ouattara said on Saturday. BUDGET
Zambia aims to lower its fiscal deficit and external debt in the
coming year after both overshot plans in 2020 due to the
coronavirus, Finance Minister Bwalya Ng'andu said in a budget
speech on Friday. the latest precious metals report click on GOL/
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