Market News

Sept 8 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.

GLOBAL MARKETS

Stocks rose and the dollar wobbled on Monday after dismal U.S. labour data sealed the case for an interest rate cut this month, while the yen fell as investors girded for uncertainty in Japan following the resignation of Prime Minister Shigeru Ishiba.

WORLD OIL PRICES

Oil prices gained more than 1% on Monday, trimming some of last week’s losses, as the prospect of more sanctions on Russian crude after an overnight strike on Ukraine offset OPEC+’s planned output increase.

SOUTH AFRICA MARKETS

South Africa’s rand, stocks and government bonds strengthened on Friday after better-than-expected foreign reserves data, and got a further boost from a weaker dollar knocked by a soft U.S. jobs report.

NIGERIA SECURITY

Boko Haram militants killed more than 60 people, including seven soldiers, in a nighttime assault on a village in northeastern Nigeria’s Borno State to which people had returned only last month following years of displacement, residents told Reuters.

((Compiled by Nairobi Newsroom))