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South African Markets - Factors to watch on September 27

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday.

ECONOMIC EVENTS

- Statistics South Africa releases August producer price inflation figures at 0930 GMT.

- South Africa's shifting budget priorities will provide roughly half of the 50 billion rand ($3.5 billion) in stimulus spending it plans to make by the end of its fiscal year in March, Finance Minister Nhlanhla Nene told Reuters.

COMPANIES

- South Africa's mining minister to give details on the revisions to the mining charter.

- Steinhoff says Greenlit Brands refinances some debt.

- Adcorp Holdings sees half-year headline earnings per share of between 85 cents and 93 cents.

SOUTH AFRICAN MARKETS

South Africa's rand powered to its firmest since late August on Wednesday as risk assets rallied despite expectations the Federal Reserve would raise interest rates and draw a line under a decade of accommodative monetary policy.

The bourse was led lower by bullion stocks as gold prices took a hit from dollar gains against other currencies.

GLOBAL MARKETS

Asian shares held firm on Thursday, outperforming sagging Wall Street shares, and U.S. bond yields fell after the Federal Reserve raised interest rates as expected, sticking to its script of gradual policy tightening.

WALL STREET

A Wall Street rally collapsed and stocks turned negative shortly before the market close on Wednesday after investors reassessed the Federal Reserve's policy statement and reduced their risk as they weighed how long the U.S. central bank would continue to raise interest rates.

GOLD

Gold prices rose on Thursday as investors looked for bargains after the metal fell to a two-week low in the previous session following a U.S. interest rate hike and as limited gains in the dollar after the decision supported demand for the metal.

EMERGING MARKETS

For the top emerging markets news, double click on

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Some of the main stories out in the South African press:

BUSINESS DAY

- Capitec beats the odds with impressive results

- Shareholders a step closer to sue Steinhoff in Dutch court

BUSINESS REPORT

- No relenting in South Africa's bleeding of jobs (Compiled by Olivia Kumwenda-Mtambo)

2018-09-27 07:28:24

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