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JOHANNESBURG, July 25 (Reuters) – The following economic event, equity and currency market moves may affect South African markets on Thursday.
ECONOMIC EVENTS
Statistics South Africa will publish the country’s producer inflation figures for June.
SOUTH AFRICAN MARKETS
The South African rand recouped some losses against a weaker dollar on Wednesday even as national inflation slowed, fuelling hopes of an interest rate cut by the South African Reserve Bank (SARB).
On the stock market, the Top-40 index was last down 0.2%.
GLOBAL MARKETS
Asian shares were hammered on Thursday as a slump in global tech stocks sent investors fleeing into less risky assets, including short-dated bonds, the yen and Swiss franc.
WALL STREET
The S&P 500 and Nasdaq ended at multi-week lows on Wednesday, with the S&P snapping one of its longest streaks without a daily decline of more than 2%, as lackluster Alphabet and Tesla earnings undermined investor confidence in megacap names.
GOLD
Gold prices fell nearly 1% on Thursday, as investors booked profits ahead of U.S. economic data that could offer more cues on when the central bank will cut interest rates this year and by how much.
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Some of the main stories out in the South African press:
BUSINESS DAY
– SA mounts bid to hang on to its Agoa trade benefits
– Tide is slowly turning for distressed SA household finances
(Compiled by Tannur Anders)