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African Markets - Factors to watch on September 10

Stock MarketsSep 10, 2020 07:12
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The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Thursday.
- - - - -
RWANDA - The statistics office releases consumer price
inflation data for August.
CORONAVIRUS - The World Health Organisation Africa office
and the Africa Union's Africa CDC hold their separate,
weekly news conferences on the pandemic in the continent.

Asia's stock markets snapped their longest losing streak
since February on Thursday and rose following a bounce on
Wall Street, though subdued trade in currency, commodity and
bond markets suggested investors remain cautious about the

Oil prices slid on Thursday after data showed U.S. crude
stockpiles unexpectedly rose last week, stoking concern
about a sluggish recovery in fuel demand as coronavirus
cases continue to surge in many countries.

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South Africa's rand recovered on Wednesday after a sharp
fall in the previous session when data showed the economy
contracted by the most on record in the second quarter.
Nigeria asked a Milan court on Wednesday to order Eni
ENI.MI and Royal Dutch Shell RDSa.L to pay $1.092
billion as an immediate advance payment for damages it is
claiming in one of the oil industry's biggest-ever
corruption trials.
Nigeria's Zenith Bank ZENITHB.LG expects pretax profit to
rise 4% to 253 billion naira ($665 million) this year,
despite the impact of the coronavirus, saying on Wednesday
that strong liquidity buffers had helped it to grow.
Nigeria is holding talks to give up majority stakes in all
four of its moribund oil refineries, Mele Kyari, head of the
state oil firm NNPC, said on Wednesday.
Kenya's shilling KES= eased on Wednesday due to increased
dollar demand from the energy sector, traders said.
Kenya has secured $750 million from the World Bank for
projects aimed at developing the economy of its arid
northeastern regions, the World Bank said late on Tuesday.
The Kenyan government's deal to lease various medical
equipment in a 63 billion shillings ($580 million) deal was
a "criminal enterprise" that flooded hospitals with
overpriced, unnecessary equipment, a senate committee said
in a report.
Ghana's consumer price inflation was at 10.5% year-on-year
in August, compared with 11.4% in July, mostly driven by
falling food prices, the West African nation's statistics
office said on Wednesday.
Ethiopia's northern Tigray region held elections on
Wednesday in a show of defiance against Prime Minister Abiy
Ahmed, who called the regional vote illegal but said the
government would not respond with force.
Influential Mali cleric Imam Mahmoud Dicko urged the
military junta on Wednesday to comply with demands from West
African leaders to name a civilian president and prime
minister by Sept. 15 to ease sanctions imposed after last
month's coup.
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African Markets - Factors to watch on September 10

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