The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.
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GLOBAL MARKETS Asian stocks took a breather on Wednesday, with mounting signs of slowing global growth and concerns over a yet-unresolved Sino-U.S. trade dispute putting the brakes on investor appetite for risk assets. MKTS/GLOB
WORLD OIL PRICES Oil prices were steady on Wednesday on hopes that increased Chinese spending would stem an economic slowdown that is showing signs of spreading and has been weighing on financial markets. O/R
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SOUTH AFRICA MARKETS The South African rand slipped on Tuesday, as fears about the health of the global economy dampened appetite for riskier emerging market assets. ELECTION Nigeria's government is recommending a 50 percent rise in the minimum wage weeks before a presidential election where the cost of living has become a major issue. CURRENCY Allowing Nigeria's naira to float would cause a currency crisis, the country's central bank governor said on Tuesday, after the main opposition candidate in next month's presidential election proposed a free float. MARKETS The Kenyan shilling KES= was firm against the dollar on Tuesday supported by tightening liquidity in the money market and diaspora remittances amid thin oil importer demand, traders said. TELECOMS Uganda has deported a French and a Rwandan executive from telecoms group MTN, accusing them of planning to compromise national security, while other employees were being investigated for alleged incitement to violence, police said on Tuesday. POLITICS Zimbabwe's President Emmerson Mnangagwa promised action on Tuesday in response to a brutal crackdown by security forces on anti-government protesters, as two of his supporters spoke of a possible plot to remove him from office. ECONOMY Zimbabwe's finance minister painted an optimistic outlook for his country on Tuesday, despite protests over fuel prices that human rights groups say have left at least a dozen people dead. the latest precious metals report click on GOL/
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