Oct 23 (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 prices jumped to record high and the dollar was on the rise again on Wednesday, keeping the pressure on the yen and the euro, while stocks in Asia stuttered as investors were reluctant to place major bets ahead of a hotly contested U.S. election.

WORLD OIL PRICES

Oil prices dipped on Wednesday after industry data showed U.S. crude inventories swelled more than expected, though declines were capped as the market watched diplomatic efforts in the Middle East after Israel continued attacks on Gaza and Lebanon.

SOUTH AFRICA MARKETS

The South African rand was stronger on Tuesday, buoyed by global precious metals prices and its appeal for carry trades.

KENYA MARKETS

The Kenyan shilling was steady against the dollar on Tuesday, as limited foreign exchange demand from importers matched supply, traders said.

AFRICA FLOODS

Devastating rains that triggered deadly floods in Cameroon, Chad, Niger, Nigeria and Sudan in recent months were worsened by human-caused climate change, a team of international scientists said on Wednesday.

AFRICA DEMOCRACY

Nearly half of Africa’s citizens live in a country where governance has worsened over the past decade, as deteriorating security erodes progress, according to a new report.

RWANDA ECONOMY

Rwanda’s economy is expected to grow by 8.3% in 2024, the International Monetary Fund (IMF) said on Tuesday, citing growth in the services and construction sectors and a recovery in food crop production.

UGANDA ACCIDENT

Ten bodies were recovered from the scene of a fuel tanker explosion in Uganda’s capital Kampala on Tuesday, a Reuters witness said.

((Compiled by Nairobi Newsroom))