JOHANNESBURG, Dec 4 (Reuters) – The following scheduled economic event, company announcement, equity and currency market moves may affect South African markets on Wednesday.
ECONOMIC EVENTS
S&P Global Whole Economy PMI for November
COMPANIES
South Africa’s Tiger Brands annual profit rises on high food prices
SOUTH AFRICAN MARKETS
The South African rand was steady on Tuesday as investors viewed an unexpected contraction in the economy in the third quarter as a temporary blip.
On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed 0.1% higher.
GLOBAL MARKETS
Asian equities stumbled on Wednesday as traders contended with the political storm in South Korea, where martial law was imposed and subsequently lifted hours later, while a no-confidence vote in France put the euro in the spotlight.
WALL STREET
The S&P 500 and Nasdaq eked out record closing highs on Tuesday, with tech-related shares extending recent gains as investors awaited further jobs data.
GOLD
Gold prices edged up on Wednesday helped by safe-haven demand, while markets awaited U.S. jobs data and comments from Federal Reserve Chair Jerome Powell for cues on the U.S. interest rate cut trajectory.
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Some of the main stories out in the South African press:
BUSINESS DAY
– Ramaphosa moves Simelane to housing department in mini reshuffle
– ICTSI says inefficiencies at Durban port are costing SA R1bn a day
FIN 24
– SA’s economy shrank – or did it? Doubts over farm data quality
– Exxaro drives Maputo export route optimisation as Transnet’s Richard Bay coal line struggles along
