Market News

NAIROBI, Sept 16 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.

EVENTS:

*Nigeria’s statistics office releases consumer inflation data for August.

GLOBAL MARKETS

Asian stocks made a cautious start on Monday in a week that is almost certain to see the start of an easing cycle in the United States with the only question mark being the size of the cut, with markets split on the chance of an outsized move.

WORLD OIL PRICES

Oil prices edged up in early trade on Monday amid expectations of a U.S. interest rate cut this week, though gains were capped by weaker China data and persistent demand worries.

SOUTH AFRICA MARKETS

The South African rand firmed on Friday against a weaker dollar, as markets weighed up bets on the size of a rate cut expected in the world’s biggest economy next week.

NIGERIA PETROLEUM

Nigerian communities are claiming 505 billion naira ($310 million) in damages from Shell, which they accuse of breaching an existing court order by striking a deal to sell its onshore assets in the Niger Delta, court papers showed on Friday.

KENYA MARKETS

The Kenyan shilling edged lower against the dollar on Friday, according to data from the London Stock Exchange Group (LSEG), though it remained within a stable range seen over the past month.

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KENYA ELECTRICITY

Kenya has awarded a public-private partnership concession to build power transmission lines to India’s Adani Group and a unit of the African Development Bank, according to an economic advisor to the country’s president.

KENYA IMF

A team of staff from the International Monetary Fund is visiting Kenya on a fact-finding trip, the IMF said late on Thursday, part of efforts to craft a way forward in the wake of deadly protests that scuppered the government’s planned tax hikes.

((Compiled by Nairobi Newsroom))