NAIROBI, Aug 26 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.

GLOBAL MARKETS

Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation data that investors hope will pave the way for rate cuts in the United States and Europe.

WORLD OIL PRICES

Oil prices extended gains on Monday on fears a major spillover in fighting from the Gaza conflict into the Middle East could disrupt regional oil supplies, while imminent U.S. interest rate cuts lifted the global economic and fuel demand outlook.

SOUTH AFRICA MARKETS

The South African rand jumped on Friday, after comments by Federal Reserve Chair Jerome Powell signaled an interest rate cut next month.

KENYA MARKETS

Kenya’s shilling was stable against the U.S. dollar on Friday, as the dollar was hit by a lull in demand, traders said.

KENYA RATINGS

Global credit ratings agency S&P downgraded Kenya’s rating on Friday to “B-” from “B,” citing the recent repeal of the East African country’s 2024/2025 Finance Bill, which it said will slow its fiscal consolidation.

SHIPPING RED SEA

Three fires blazed on a Greek-flagged oil tanker in the Red Sea, the United Kingdom Maritime Trade Operations said on Friday, one day after rescuers evacuated its crew in the wake of an assault by Yemeni Houthi militants.

GHANA COCOA

Ghana’s cocoa marketing board, Cocobod, is fine-tuning a new funding model for bean purchases that will require global traders to deposit at least 60% of the value of their forward contracts at the start of the season, two sources told Reuters.

MALI SECURITY

At least 21 people, including 11 children, were killed by drone strikes on Sunday on the town of Tinzaouaten in north Mali, near where the army suffered a heavy blow last month, Tuareg rebels said.

((Compiled by Nairobi Newsroom))