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NAIROBI, Aug 27 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.

GLOBAL MARKETS

Asian stocks fell on Tuesday as investors pondered looming U.S. interest rate cuts and awaited earnings from AI darling Nvidia, while rising tensions in the Middle East and supply concerns checked risk sentiment and lifted oil prices.

WORLD OIL PRICES

Oil prices paused their recent advances, receding in Asian trading on Tuesday after surging more than 7% in the previous three sessions on supply concerns prompted by fears of a wider Middle East conflict and the shutdown of Libyan oil fields.

SOUTH AFRICA MARKETS

South Africa’s rand was stable on Monday, ahead of local economic data releases this week that could give hints on the health of the local economy.

KENYA MARKETS

The Kenyan shilling was stable on Monday, with traders saying market activity was muted despite S&P Global downgrading the country’s sovereign credit rating late on Friday.

NIGERIA ECONOMY

Nigeria’s economy grew 3.19% in the second quarter of 2024 compared with the same quarter last year, lifted by higher crude oil production and the performance of its services sector, statistics agency data showed on Monday.

SUDAN FLOODS

Surging waters have burst through a dam, wiped out at least 20 villages and left at least 30 people dead but probably many more in eastern Sudan, the United Nations said on Monday, devastating a region already reeling from months of civil war.

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WEST AFRICA MIGRATION

Spain’s Prime Minister Pedro Sanchez starts his second visit this year to West Africa on Tuesday, aiming to curb migration to the Canary Islands and to counter the Russian presence in the Sahel region.

HEALTH MPOX

Democratic Republic of Congo no longer expects to receive its first delivery of mpox vaccines this week, the head of its response team said on Monday, as Congo battles a new variant of the virus that has spread beyond its borders.

GHANA ELECTION

The two main contenders in Ghana’s presidential election have launched duelling manifestos promising fiscal stability, jobs and a path out of the country’s worst economic downturn in a generation.

((Compiled by Nairobi Newsroom))