July 20 (Reuters) – The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Wednesday.
Statistics South Africa to publish June consumer price inflation figures at 0800 GMT.
SOUTH AFRICAN MARKETS
South Africa’s rand firmed on Tuesday, as the dollar fell due to cooling expectations for a full percentage-point Federal Reserve Bank interest rate hike next week.
On the Johannesburg Stock Exchange, the All-Share index rose 1.15% to 67,785 points, while the Top-40 index closed 1.22% higher at 61,499 points.
Asian shares extended a global rally on Wednesday as strong U.S. corporate earnings and the expected resumption of Russian gas supply to Europe helped lift sentiment and ease fears of a recession, while the dollar was mired near two-week lows.
U.S. stocks closed with sharp gains on Tuesday as more companies joined big banks in reporting earnings that beat forecasts, offering respite to investors worried about higher inflation and a tightening Fed denting the corporate bottomline.
Gold was little changed on Wednesday as it failed to make the most of a pullback in the dollar, with demand for bullion being restrained amid prospects of aggressive monetary policies and rising U.S. bond yields.
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Some of the main stories out in the South African press:
– Adcock Ingram misses out on main ARV tender despite stateâ€™s localisation goal
– Tongaat Hulett suspended from the JSE
– Super Group flags higher earnings despite unrest
– Sasol, CEF to open new ‘gas bridge’ to Mozambique
– Fuel forecast: Petrol and diesel may be cut next month, if oil weakness lasts
– Eskom denies discouraging the switch to solar with stiff new tariffs (Compiled by Anait Miridzhanian)