Market News

NAIROBI, Sept 12 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.

EVENTS:

Africa’s top public health body the Africa Centres for Disease Control and Prevention (Africa CDC) briefs reporters on mpox outbreaks on the continent.

GLOBAL MARKETS

Asian shares bounced on Thursday, tracking a tech-driven rally on Wall Street, while the dollar held onto gains after U.S. core inflation surprised slightly on the upside and dashed hopes of a large rate cut by the Federal Reserve next week.

WORLD OIL PRICES

Oil prices rose during Asian trade on Thursday, spurred by concerns of Hurricane Francine impacting output in the U.S., the world’s biggest crude producer, though worries of lower demand capped gains.

SOUTH AFRICA MARKETS

The South African rand held on to gains against the dollar on Wednesday after U.S. inflation data reinforced expectations that the Federal Reserve will opt for a smaller 25 basis point rate cut at its policy meeting next week.

KENYA MARKETS

The Kenyan shilling was unchanged against the U.S. dollar on Wednesday, LSEG data showed, extending a recent period of stability that has lasted about a month.

UNITED NATIONS AFRICA

The United States supports creating two permanent United Nations Security Council seats for African states and one seat to be rotated among small island developing states, U.S. Ambassador to the U.N. Linda Thomas-Greenfield will announce on Thursday.

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KENYA AIRPORT

Workers at Kenya’s main international airport ended a day-long strike on Wednesday, a union official said, after they were assured by the government that a plan to lease the airport to an Indian company would only proceed with the union’s approval.

((Compiled by Nairobi Newsroom))