Market News

Sept 10 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

EVENTS:

Ghana’s statistics agency will release the West African nation’s gross domestic product for the second quarter of 2025.

Rwanda’s statistics office releases consumer inflation data for August.

GLOBAL MARKETS

Asian stocks tracked Wall Street higher on Wednesday and bonds fell as traders firmed up bets that U.S. labour market softness would spur the Federal Reserve to cut rates by at least a quarter point next week.

WORLD OIL PRICES

Oil prices rose on Wednesday after Israel attacked Hamas leadership in Qatar and U.S. President Donald Trump asked Europe to impose tariffs on buyers of Russian oil, but a weak market outlook capped gains.

SOUTH AFRICA MARKETS

The South African rand was little changed on Tuesday even after the statistics agency reported better-than-expected second-quarter gross domestic product numbers.

ETHIOPIA DAM

Ethiopia officially inaugurated Africa’s largest hydroelectric dam on Tuesday, a project that will provide energy to millions while deepening a rift with downstream Egypt that has unsettled the region.

CONGO SECURITY

Allied Democratic Forces rebels with machetes and guns have killed at least 61 civilians at a funeral in east Congo, officials said on Tuesday, in one of the deadliest attacks by the Islamic State-linked group in recent months.

((Compiled by Nairobi Newsroom))