JOHANNESBURG, Aug 1 (Reuters) – The following scheduled economic events, equity and currency market moves may affect South African markets on Thursday.
ECONOMIC EVENTS
South Africa July manufacturing sector PMI
South Africa July vehicle sales
SOUTH AFRICAN MARKETS
South Africa’s rand strengthened on Wednesday, ahead of a much-anticipated policy decision by the U.S. Federal Reserve.
On the stock market, the Top-40 index closed over 2% up.
GLOBAL MARKETS
Asian shares rallied on Thursday, tracking a huge revival in tech stocks helped by Meta and Nvidia, while prospects of imminent policy easing in the United States boosted global bonds and commodities.
WALL STREET
The S&P 500 and Nasdaq scored their biggest daily percentage gains since Feb. 22 and the Dow rose on Wednesday as chip stocks rallied and the Federal Reserve kept U.S. interest rates unchanged while signaling possible easing in September if inflation cools.
GOLD
Gold prices hit a two-week high on Thursday as U.S. Federal Reserve Chair Jerome Powell opened the door to cutting interest rates as early as September.
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Some of the main stories out in the South African press:
BUSINESS DAY
– Helen Zille says DA relying on ANC’s disintegration to become majority party
FIN 24
– Dis-Chem questioned at AGM about ‘zero percent’ black top management
– Disappointment as Woolies misfires in Australia, SA clothing
(Compiled by Bhargav Acharya)
