Market News

Sept 9 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.

EVENTS:

Kenya’s finance ministry is expected to start preparations for the 2025/26 (July-June) fiscal budget.

Ethiopia’s statistics agency is expected to release inflation data for August.

GLOBAL MARKETS

Asian share markets slid on Monday after worries about a possible U.S. economic downturn slugged Wall Street, though U.S. stock futures did rally from an early dip and bond yields came off their lows.

WORLD OIL PRICES

Oil prices retreated on Friday as investors weighed expectations of a rise in OPEC+ supply starting in October, alongside dwindling hopes of a hefty U.S. interest rate cut next month, following data showing strong consumer spending.

SOUTH AFRICA MARKETS

The South African rand slipped on Friday after U.S. data suggested a big Federal Reserve interest rate cut was likely not warranted, while the country’s benchmark government bond hit an almost three-year high on improved investor sentiment.

KENYA MARKETS

Kenya’s shilling slipped slightly on Friday, but it was expected to strengthen later in the session due to dollar inflows from remittances and the tourism sector, traders said.

UGANDA LOANS

The World Bank and French Development Agency (AFD) have given Uganda more than $600 million to fund infrastructure development and manage waste in the capital Kampala, the government and World Bank said on Thursday.

SUDAN POLITICS

Both sides in Sudan’s civil war have committed abuses that may amount to war crimes, and world powers need to send in peacekeepers and widen an arms embargo to protect civilians, a U.N.-mandated mission said on Friday.

((Compiled by Nairobi Newsroom))