South African Markets

JOHANNESBURG, Oct 11 (Reuters) – The following scheduled economic event, equity and currency market moves may affect South African markets on Friday.

ECONOMIC EVENT

South African inflation-linked bond auction

The South African rand firmed against the dollar on Thursday after data showed a slight decline in U.S. inflation in September, keeping the Federal Reserve on track to cut interest rates again next month.

On the Johannesburg stock market, the Top-40 index closed little changed.

GLOBAL MARKETS

Asian shares were headed for their first weekly loss in five on Friday as a stunning rally in Chinese shares took a breather, although all eyes are on the details of much-anticipated fiscal stimulus from Beijing this weekend.

WALL STREET

Wall Street’s main indexes closed lower on Thursday as investors looked to higher-than-expected inflation and unemployment claims for indications on the health of the U.S. economy and the path for interest rates.

GOLD

Gold prices climbed on Friday after recent data firmed bets for a Federal Reserve rate cut next month, while market participants awaited the U.S. Producer Price Index (PPI) report for further direction.

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Some of the main stories out in the South African press:

BUSINESS DAY

– Township malls thrive despite high rates, Nedbank says

– Manganese the target in Exxaro’s search for assets

FIN 24

– ‘Severe threat’ of disruption at OR Tambo amid SARS delays, industry warns

– ‘Nothing to work with’: Good intentions, quick fixes not solving SA’s deep logistics problem

(Compiled by Bhargav Acharya)

ECONOMIC EVENT