Market News

Sept 11 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.

EVENTS:

Tanzania court to is due rule on the eligibility of an opposition candidate for October’s presidential vote.

Namibia releases consumer inflation for July.

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 were flat on Thursday, cooling from the previous session as weak demand in the United States and broad oversupply risks countered concern over attacks in the Middle East and Russia’s war in Ukraine.

SOUTH AFRICA MARKETS

The South African rand firmed on Wednesday after softer-than-expected U.S. producer prices data cemented expectations that the Federal Reserve will resume cutting interest rates soon.

GHANA MIGRANTS

Ghana has agreed to accept West African nationals deported from the United States and 14 have already arrived in the country, President John Dramani Mahama told reporters late Wednesday.

ZAMBIA PROPERTY

Zambia’s high court has ruled that Standard Chartered does not have to pay $500,000 compensation to a former client it sold a now-defaulted Chinese property bond to at the height of the Asian country’s real-estate crisis.

CLIMATE CHANGE AFRICA

Africa is aiming to secure $50 billion a year for a new continental climate solutions initiative sponsored by Ethiopia’s Prime Minister Abiy Ahmed, a draft declaration after a leaders’ climate summit in Addis Ababa showed on Wednesday.

((Compiled by Nairobi Newsroom))