JOHANNESBURG, Nov 21 (Reuters) – The following scheduled economic event, company announcements, equity and currency market moves may affect South African markets on Thursday.
ECONOMIC EVENT
The South African Reserve Bank to announce interest rate decision
COMPANIES
South Africa’s Mr Price profit rises in first half on better Q2 sales
South Africa’s Investec to release half-year results
SOUTH AFRICAN MARKETS
South Africa’s rand slipped on Wednesday against a buoyant dollar, despite inflation dropping to its lowest level in more than four years, and as investors geared up for a policy announcement by the central bank on Thursday.
On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed about 0.8% up.
GLOBAL MARKETS
Asian equities fell on Thursday after AI darling Nvidia disappointed investors with slower revenue growth expectations, while the dollar firmed and bitcoin hit a record high, buoyed by hopes about U.S. President-elect Donald Trump’s policies.
WALL STREET
The tech-heavy Nasdaq closed lower on Wednesday, taking a break from the prior session’s rally as investors worried about escalating Russia-Ukraine tensions and weak results from Target, while awaiting earnings from megacap Nvidia that landed after the bell.
GOLD
Gold prices rose for a fourth straight session on Thursday, driven by safe-haven demand amid escalating tensions in the Russia-Ukraine conflict, while investors awaited remarks from U.S. Federal Reserve policymakers on the interest rate outlook.
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Some of the main stories out in the South African press:
BUSINESS DAY
– SA’s international finance pledges for its energy transition now over $13bn
– Tiger Brands simplifies portfolio with sale of Elizabeth Anne’s
FIN 24
– Drive-outs, not buy-outs: Ninety One sees competition driving consolidation despite R5bn Sanlam deal
– COP29 | SA upbeat on mitigation deal despite staunch opposition
(Compiled by Bhargav Acharya)
