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Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on Sept. 11

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

ECONOMIC EVENTS

– South Africa’s Chamber of Commerce publishes August business confidence index. 0930 GMT

COMPANIES

– Growthpoint Properties Full Year 2019 Earnings Release.

SOUTH AFRICAN MARKETS

South Africa’s rand firmed on Tuesday, buoyed by improved investor appetite for riskier assets and comments from ratings agency Moody’s that the country is unlikely to suffer a credit downgrade to junk in the short term.

In equities, the Johannesburg All-Share .JALSH was down 0.34% to 55,336 points, while the benchmark Top-40 index .JTOPI fell 0.24% to 49,485 points.

GLOBAL MARKETS

Bond yields climbed and stock markets held steady on Wednesday, as hopes of easing U.S.-China tensions and diminished risk of a no-deal Brexit prompted traders to take profit before key central bank meetings.

WALL STREET

The S&P 500 ended little changed on Tuesday, with a rally in energy and industrial shares countering a drop in the technology and real estate sectors as investors favoured value over growth.

GOLD

Gold prices edged higher on Wednesday, snapping a four-day losing streak on technical buying, while investors awaited European Central Bank’s meeting where it is widely expected to cut interest rates.

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

– Public broadcaster SABC blames Ramaphosa glitch on staff sabotage.

BUSINESS REPORT

– PetroSA gas reserves will run out by 2020.


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