African Markets – Factors to watch on Aug. 30

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Wednesday.
    - - - - -
 
 GLOBAL MARKETS
 The dollar rebounded from a 2-1/2-year low on Wednesday, and
 Asian stocks took their cue from Wall Street's higher close,
 as concerns about North Korea's firing of a missile over
 Japan ebbed.                       
 
 WORLD OIL PRICES
 Oil prices slid on Wednesday but gasoline spiked to their
 highest since July 2015 as flooding and storm damage in the
 wake of Hurricane Harvey has shut one-fifth of U.S. oil
 refineries, crimping demand for crude but raising fears of a
 fuel shortage.                 
 
 EMERGING MARKETS
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 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 
 SOUTH AFRICA MARKETS
 South Africa's rand broke past a key level on Tuesday,
 recovering for early concerns about North Korea's missile
 launch, while gold stocks rose in a generally lower
 session.            
 
 
 NIGERIA ENERGY
 Nigeria launched a scheme on Tuesday to transport liquefied
 natural gas (LNG) to regions not linked by pipeline,
 supplying power plants and industry with cheaper, cleaner
 fuel, officials said.            
 
 
 KENYA MARKETS
 The Kenyan shilling        remained stable against the
 dollar on Tuesday as the supreme court entered the second
 day of the hearing of a petition challenging the outcome of
 the presidential election, traders said.            
 
 
 GHANA MARKETS
 The Ghana Stock Exchange will suspend trading in shares of
 Cocoa Processing Company (CPC)          beginning Wednesday
 because the state-run company has not met listing
 obligations, the exchange said on Tuesday.            
 
 
 UGANDA MARKETS
 The Ugandan shilling        was trading unchanged on Tuesday
 as subdued consumer spending kept appetite for hard currency
 from merchandise importers sagging.              
 
 
 MOZAMBIQUE ECONOMY
 Mozambique will charge Italian energy company ENI         
 $350 million in capital gains tax for its sale of a stake in
 the Coral South natural gas field to ExxonMobil XOM.N, the
 nation's finance minister said on local television on
 Tuesday. 
 
 
 SUDAN-USA/AID
 The United States has raised the issue of religious freedom
 during talks about easing sanctions on Sudan, the new head
 of the U.S. Agency for International Development said in
 Sudan on Tuesday.             
 
 
 SUDAN RIGHTS
 Sudanese President Omar al-Bashir has pardoned and released
 a prominent human rights activists who had been jailed since
 last year on spying and other charges, his family
 said.               
 
 
 ZIMBABWE STEEL
 China's R&F           plans to invest up to $2 billion to
 revive operations at Zimbabwe Iron and Steel Company
 (ZISCO), the southern African nation's industry and commerce
 minister said on Tuesday.                
 
 
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Source
Reuters: Ghana News




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