African Markets – Factors to watch on Oct 16

NAIROBI, Oct 16 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. – – – – – EVENTS: *ETHIOPIA – State-owned Ethio Telecom holds a news conference on the planned share sale of a 10% stake on the country’s new bourse. GLOBAL MARKETS Asian equities fell on Wednesday after disappointing earnings from Europe’s biggest tech firm ASML dragged chip stocks around the world, while expectations that the Federal Reserve will take a modest rate cut path propped up the dollar. WORLD OIL PRICES Oil prices inched higher in early trade on Wednesday on uncertainty over what may happen next in the Middle East conflict, after demand concerns knocked the market to its lowest since early October in the previous session. EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on South African stocks, click on SOUTH AFRICA MARKETS South Africa’s rand was little changed on Tuesday after the release of a local business confidence index and the central bank’s bi-annual Monetary Policy Review. NIGERIA INFLATION Nigeria’s inflation rate rose in September for the first time in three months, advancing to 32.70% in annual terms from 32.15% in August, the statistics agency said on Tuesday. KENYA MARKETS The Kenyan shilling was unchanged against the dollar on Tuesday, data from the London Stock Exchange Group showed. KENYA POLITICS Kenya’s courts on Tuesday declined to stop this week’s Senate vote on Deputy President Rigathi Gachagua’s impeachment from going ahead. JP MORGAN EXPANSION JPMorgan Chase , the largest U.S. lender, plans to enter Kenya and Ivory Coast this year and grow its footprint in Africa, CEO Jamie Dimon told Reuters. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on

(c) Copyright Thomson Reuters 2024. Click For Restrictions – https://agency.reuters.com/en/copyright.html