African Markets - Factors to watch on October 2

By Reuters News

NAIROBI, Oct 2(Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

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GLOBAL MARKETS

Asian shares fell on Friday as investors grappled with wild swings in bond and currency markets ahead of key US jobs data, while a widening military buildup in the Gulf kept oil prices elevated.MKTS/GLOB


WORLD OIL PRICES

Oil prices drifted slightly higher on Friday after China halted fuel exports, while the Wall Street Journal reported that the US is sending more troops and carriers to the Middle East as it also tries to make Europe draw down more emergency diesel.O/R


AFRICA STOCKS

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SOUTH AFRICA MARKETS

The South African rand weakened against a stronger dollar on Thursday, as investors digested domestic economic data showing an improvement in manufacturing sentiment and resilient vehicle sales.


AFRICA CURRENCIES

Uganda's currency is expected to fall further over the next week to Thursday after hitting its weakest-ever level against the dollar, those of Zambia and Ghana may also be under pressure, and Kenya's is expected to remain stable, traders said.


AFRICA CREDIT RATINGS

The African Development Bank will launch an initiative to help countries on the continent better prepare for credit ratings, President Sidi Ould Tah said on Thursday.


ETHIOPIA SECURITY

Ethiopia ordered the closure of its embassy in Eritrea and declared 10 Eritrean diplomats persona non grata on Thursday, prompting Asmara to sever all diplomatic ties with its neighbour after overnight blasts heard in Addis Ababa sparked fears about renewed conflict in northern Ethiopia spreading.


SENEGAL DEBT

Senegalese authorities held meetings with bilateral creditors regarding the country's coming debt treatment and there is an agreement to form an official creditor committee in the coming weeks, the International Monetary Fund said on Thursday.


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