African Markets - Factors to watch on Aug 23
Aug 23 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.
- - - - - EVENTS: Equity Group Holdings EQTY.NR financial results Sasol Ltd SOLJ.J financial results South Africa Q2 unemployment data South Africa leading business cycle indicator GLOBAL MARKETS Asian shares were down for a sixth straight session on Tuesday after a renewed spike in European energy prices stoked fears of recession and pushed bond yields higher, while tipping the euro to 20-year lows. WORLD OIL PRICES Oil rose on Tuesday as renewed concerns over tight supply dominated market sentiment after Saudi Arabia warned that the major oil producer could cut output to correct a recent oil price decline. EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on African stocks, click on SOUTH AFRICA MARKETS South Africa's rand was flat on Monday, as the dollar continued to surge after more Federal Reserve officials flagged the likelihood of aggressive interest rate hikes. KENYA MARKETS The Kenyan shilling KES= was broadly stable against the dollar on Monday, with dollar demand from sectors including energy balanced by inflows from non-governmental organisations and remittances from the diaspora. KENYA ELECTION CHALLENGE Veteran opposition leader Raila Odinga on Monday challenged Kenya's presidential election results in the Supreme Court and alleged the tally had involved "criminality", sharpening a political contest gripping East Africa's powerhouse. ANGOLA CAMPAIGNING Angolan presidential candidates on Monday wrapped up a month-long campaign ahead of this week's election which is likely to be a tense standoff between a ruling party in power for decades and an opposition with growing appeal among youth.
GHANA EUROBONDS Ghana's dollar-denominated bonds were hit on Monday, as the dollar's strength and fears of an economic downturn in China hit already-struggling frontier markets, including the West African country which has turned to the IMF amid soaring inflation. EBOLA CASE A new case of Ebola virus has been confirmed in the city of Beni in eastern Democratic Republic of Congo, the country's National Institute for Biomedical Research said on Monday.
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(Compiled by Nairobi Newsroom)