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Oct 24 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.

EVENTS:

Kenya’s High Court will hold a hearing into a legal challenge by ousted deputy president Rigathi Gachagua to prevent President William Ruto from swearing in his replacement.

GLOBAL MARKETS

Asian shares fell on Thursday, while the dollar held near three-month highs and U.S. yields rose as uncertainty over the U.S. election outcome kept markets on edge, though Tesla’s forecast-topping earnings provided some comfort for investors.

WORLD OIL PRICES

Oil prices climbed by more than 1% on Thursday, almost reversing previous session’s losses, as Middle East tensions came back into focus ahead of the U.S. election despite a mixed bag of U.S. fuel inventories.

SOUTH AFRICA MARKETS

The South African rand slumped on Wednesday against a strong dollar on bets that the Federal Reserve won’t rush to cut interest rates and as investors were uncertain about the outcome of next month’s U.S. election.

KENYA MARKETS

The Kenyan shilling was unmoved against the dollar on Wednesday, as exporters converted dollars to the local currency to process payrolls, one trader said.

SUDAN SECURITY

A plane downed in Sudan’s North Darfur state had Russian crew members and was being used by the army to resupply the besieged city of al-Fashir, according to the opposing faction and documents it said were found in the wreckage.

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NIGERIA OIL

Nigeria’s decision this week to block Shell’s $2.4 billion sale of its onshore assets has sent a negative signal to investors the country urgently needs to strengthen its all-important oil sector, analysts said.

NIGERIA POLITICS

Nigerian President Bola Tinubu has reshuffled his 45-member cabinet, naming seven new ministers, sacking five and reassigning 10 others to new portfolios, a spokesperson said on Wednesday.

NIGERIA CRYPTO

A Nigerian court on Wednesday ordered the release of Binance executive Tigran Gambaryan after the government dropped money laundering charges against him to allow him to get medical treatment abroad.

((Compiled by Nairobi Newsroom))