The following scheduled company announcements, equity and currency market moves may affect South African markets on Thursday.
– South African lender FirstRand, which runs the country’s largest retail bank, will on Thursday report its full-year results. It has already flagged profits are expected to jump by up to 58%.
SOUTH AFRICAN MARKETS
The South African rand fell on Wednesday as a drop in retail sales added to evidence that riots and tight COVID-19 restrictions dealt the economy a severe blow at the start of the third quarter.
Johannesburg-listed stocks inched up on Wednesday, but slowing Chinese factory output and retail sales kept gains in check as elsewhere on global equities markets.
Asian shares gave up early gains to fall again on Thursday, weighed by declines in China and Hong Kong, even after a strong lead-in from Wall Street which had also pushed the dollar to the lower end of its recent range.
U.S. stocks closed higher on Wednesday as rising crude prices boosted energy shares and a swath of positive U.S. data suggested inflation has crested and the economic recovery remains robust, boosting investor sentiment.
Gold prices inched lower on Thursday as cautious investors awaited signals on the U.S. Federal Reserve’s timeline on withdrawal of its pandemic-era stimulus, with analysts expecting a further slide in prices on a formal announcement.
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(Compiled by Olivia Kumwenda-Mtambo)