NAIROBI,- The following company announcements, scheduled economic
\nindicators, debt and currency market moves and political events may affect African markets on
\nAsian shares fell for a third straight day on Wednesday as
\nweak manufacturing reports from China, the United States and
\nEurope fuelled worries about slowing global growth, while the
\ndollar took back some ground lost in the previous session to
\nthe safe-haven Japanese yen.
WORLD OIL PRICES
\nOil prices fell around 2 percent in Asian trade on Wednesday,
\nas a stronger-than-expected build in U.S. crude oil stocks and
\nweaker U.S. manufacturing data fuelled a rout in prices that
\nstarted in the previous session.
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\nEast African currencies are expected to come under pressure
\nnext week as investors flee emerging markets, while the naira
\nis likely to hold its ground on anticipated dollar sales by
\nthe central bank.
SOUTH AFRICA MARKETS
\n*South Africa’s rand inched up in early trade against the
\ndollar on Tuesday despite data showing that China’s
\nmanufacturing sector is in its worst slump in several years,
\nraising fresh fears of an economic slow down.
\n*South African stocks fell sharply and the rand tumbled over
\none percent against the dollar on Tuesday, dragged lower by
\ndata showing manufacturing activity in China contracted at its
\nfastest pace in three years.
\nKenya’s shilling weakened against the dollar on
\nTuesday, under pressure from strong liquidity in the money
\nmarkets and from companies making their usual end-month
\npayments. Stocks were down.
\nShare dealing on Nigeria’s bourse fell to 170.8 billion
\nnaira($858.3 mln) in July, down 23.8 percent from year ago,
\nthe stock exchange said on Tuesday, as foreign investors hurt
\nby a weaker naira withdrew cash from equities.
IVORY COAST INFLATION
\nIvory Coast’s consumer price inflation dropped to 1.2 percent
\nyear-on-year in July from 1.8 percent in June, data from the
\nNational Statistics office showed on Tuesday.
\nAngola needs to cut its spending to match falling oil sales
\nrevenue after the crude price drop, the Central Bank Governor
\ntold Angola National State Radio (RNA) on Tuesday.
CENTRAL AFRICAN REPUBLIC POLL
\nCentral African Republic is falling behind with preparations
\nfor Oct. 18 elections and will probably have to delay them,
\nthe head of the transitional government said on Tuesday.