The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Wednesday.
August retail sales at 1100 GMT
SOUTH AFRICAN MARKETS
The South African rand gained against the dollar on Tuesday, as analysts said markets were pricing in an interest rate increase by the central bank in November.
Asian shares were on edge on Wednesday as worries about soaring power prices fuelling inflation weighed on sentiment and drove expectations the United States would taper its emergency bond buying programme, keeping the dollar near a one-year high.
U.S. stocks finished lower on Tuesday, extending losses late as investors grew more jittery in the run up to third-quarter earnings, while a jump in Tesla shares helped support the market.
Gold held steady on Wednesday, underpinned by a slight pullback in the dollar and U.S. Treasury yields, while investors awaited U.S. inflation data to gauge the Federal Reserve’s path on normalising policy.
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Some of the main stories out in the South African press:
– DP World and Britain’s CDC pledge up to $1.7bn investment in African ports
– Tiger Brands gets back to baking after wildcat strike
– ‘No deal!’ – Numsa persists with strike as employers warn of job losses
– Old Mutual to expand West African market share with acquisitions (Compiled by Nqobile Dludla)