The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday.
- July retail sales. 1100 GMT
- No major events.
South Africa’s rand retreated on Tuesday as a resurgent dollar pushed back and wiped away early demand for risk currencies while turning up technical pressure on the local unit. The bourse gained ground lifted higher by mining companies.
Asian stocks wobbled on Wednesday but still marked a 10-year high, cheered by record highs on Wall Street, while shares of Apple Inc’s AAPL.O suppliers dipped following the release of the latest iPhone.
The major Wall Street indexes hit record closing highs on Tuesday, with financial stocks leading the charge, but gains were stunted by a decline in Apple Inc AAPL.O shares after it unveiled its latest line of iPhones.
Gold held steady on Wednesday amid firmer equities, with safe-haven demand for the metal supported after U.S. President Donald Trump urged tougher measures against North Korea.
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Some of the main stories out in the South African press:
- Revenue service expected to report 13.1 billion rand ($1 billion) collection shortfall in Q1.
- Mining companies looking outside the country for new investments.
- Property firm Attacq looking to offload African investments. ($1 = 12.9793 rand)