The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday.
SOUTH AFRICAN MARKETS
South Africa’s rand gained more than one percent on Tuesday, reversing much of the previous session’s losses as appetite for risk assets globally rose after comments by U.S. President Donald Trump put the skids under the dollar.
Stocks ticked up, led by gold and platinum shares benefiting from higher resource prices.
The dollar struggled to regain its poise on Wednesday after the Trump administration accused Germany, Japan and China of devaluing their currencies to gain a trade advantage, adding to a risk-off mood that also kept stocks subdued.
The S&P 500 fell on Tuesday for a fourth consecutive session, weighed by sectors sensitive to economic growth amid disappointing earnings and lingering concern over the priorities of the Trump administration.
Gold held steady on Wednesday after hitting a one-week high in the previous session, as traders waited to see if the U.S. Federal Reserve will keep its interest rates unchanged amid uncertainty over the policies of President Donald Trump.
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Some of the main stories out in the South African press:
– Nel cites ‘selective NPA prosecutions”
– Nando’s quashes IPO and London listing rumours
– SAPO plans to be bank by July 3 (Compiled by Tiisetso Motsoeneng)