The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday.
- South African Reserve Bank releases Q2 current account data. 0800 GMT
- Impala Platinum HY results.
- Aspen FY results.
South Africa’s rand slipped to its weakest in three weeks on Wednesday as traders opted to bank small profits from the currency’s dip below a crucial technical mark with creeping concerns about credit downgrades souring sentiment.
Asian stocks inched down from 10-year highs on Thursday following a burst of Chinese data which was largely weaker than markets expected, while the dollar held steady ahead of U.S. inflation data due later in the day.
Wall Street edged up to a record high on Wednesday as gains in consumer discretionary and energy stocks offset losses in technology heavyweight Apple Inc.
Gold edged down on Thursday to its lowest in nearly two weeks on waning risk aversion, and as the dollar steadied ahead of U.S. consumer inflation data that could offer clues on the timing of further interest rate hikes.
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Some of the main stories out in the South African press:
- Alex Forbes axes MMI as preferred service provider.
- Public enterprises minister Brown sitting on Eskom corruption probe.
- State pension fund PIC’s chief executive to replaced by Gupta-family linked board member.
- South African schools slip in regional rankings.