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July 17 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.
GLOBAL MARKETS
Gold hit a record and bonds rallied on Wednesday as markets prepared for global interest rates to fall, while stocks in Taiwan slipped after U.S. presidential candidate Donald Trump sounded lukewarm in his commitment to the island’s defence.
WORLD OIL PRICES
Oil prices were steady on Wednesday, with global benchmark Brent hovering near the one-month low it hit in the prior session, as signs of weakening demand growth in China clashed with the prospect of declining U.S. oil stockpiles.
SOUTH AFRICA MARKETS
The South African rand clawed back some losses on Tuesday, after tumbling on Monday, on rising expectations that the U.S. Federal Reserve will soon cut interest rates.
KENYA MARKETS
Kenya’s shilling slid lower on Tuesday, with traders saying there was a shortage of dollars on the market.
KENYA POLITICS
At least one person was killed in renewed anti-government protests across Kenya on Tuesday, a Reuters reporter said, as police clashed with demonstrators demanding that President William Ruto step down.
NIGERIA BINANCE
A Nigerian court on Tuesday adjourned a money laundering trial against cryptocurrency exchange Binance and two of its executives to Oct. 11, after the court’s annual holiday that starts next week.
GHANA COCOA
Ghana’s cocoa marketing board Cocobod made a 2.3 billion cedi ($149.84 million) profit in 2022/23, helped by the restructuring of its debt, the west Africa nation’s auditor general said in a report obtained by Reuters on Tuesday.
((Compiled by Nairobi Newsroom))