NAIROBI, Aug 7 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

EVENTS:

*Uganda’s central bank is due to announce its latest benchmark lending rate decision.

*Kenya’s central bank governor is due to hold a news conference, a day after the bank announced its latest lending rate decision.

GLOBAL MARKETS

Asian share markets extended their rally on Wednesday, led by another bounce in the Nikkei, as the Bank of Japan unexpectedly turned cautious on rate hikes amidst market volatility, which led to a sharp fall in the yen.

WORLD OIL PRICES

Oil prices slipped in early Asian trading on Wednesday following a brief rebound in the previous session after industry data showed an unexpected build in U.S. crude oil and gasoline inventories, offsetting global oil supply concerns.

SOUTH AFRICA MARKETS

The South African rand held steady on Tuesday as global risk sentiment improved after tanking on Monday amid fears of a possible recession in the United States.

NIGERIA PETROLEUM

Nigeria’s oil output has risen to between 1.6 million and 1.7 million barrels per day after the government beefed up security to curb crude theft, Chief of Naval Staff Emmanuel Ikechukwu Ogalla said on Tuesday.

KENYA MARKETS

Kenya’s shilling eased slightly on Tuesday, and traders said it was expected to hold steady during the session, with dollar demand from various sectors being matched by supply.

KENYA CENTRAL BANK RATE

Kenya’s central bank cut its benchmark lending rate by 25 basis points on Tuesday, saying there was scope to ease policy gradually as inflation had fallen below the midpoint of its target range.

ETHIOPIA FOREX

Ethiopia’s central bank said on Tuesday that it would conduct a special foreign exchange auction on Aug. 7.

((Compiled by Nairobi Newsroom))