ADCORP: 1,815 -10 (-0.55%)
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.
- 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.
- South Africa's mining minister to give details on the
revisions to the mining charter.
- Steinhoff says Greenlit Brands refinances some
- 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.
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.
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 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
For the top emerging markets news, double click on
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Some of the main stories out in the South African press:
- Capitec beats the odds with impressive results
- Shareholders a step closer to sue Steinhoff in Dutch court
- No relenting in South Africa's bleeding of jobs
(Compiled by Olivia Kumwenda-Mtambo)
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