African Markets – Factors to watch on Oct 8

NAIROBI, Oct 8 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. – – – – – GLOBAL MARKETS Asian stocks tracked Wall Street lower on Wednesday as investors grappled with the fallout from political drama in France and Japan, while a prolonged U.S. government shutdown catapulted gold spot prices to a record $4,000 per ounce level. WORLD OIL PRICES Oil prices rose on Wednesday as investors brushed off oversupply fears, having digested a decision earlier by OPEC+ to restrain production increases next month. EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on South African stocks, click on SOUTH AFRICA MARKETS The South African rand was steady on Tuesday, after central bank data showed that the country's foreign reserves increased last month. DEMOCRATIC REPUBLIC OF CONGO RATES Democratic Republic of Congo's central bank lowered its main interest rate by 750 basis points to 17.5% on Tuesday, saying it expected inflation to fall further over the next 12 months, settling around its medium-term target of 7%. NIGERIA DEBT Nigerian President Bola Tinubu has asked parliament to approve $2.3 billion in new loans and authorize the issuance of a $500 million debut sovereign sukuk on international debt markets, according to a letter read to lawmakers on Tuesday. KENYA RATES Kenya's central bank cut its benchmark lending rate for the eighth meeting in a row on Tuesday, saying there was room to ease monetary policy further as inflation remains well within its target range. ANGOLA DEBT Angola is looking to raise $1.5 billion dollars in its return to international capital markets, the finance ministry said on Tuesday, becoming the latest African sovereign to seize on the most favourable borrowing conditions in six years. KENYA LOANS Kenya has completed converting three railway construction dollar-denominated loans from China into yuan in order to save on interest payments, its Finance Minister John Mbadi said on Tuesday. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on

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