JOHANNESBURG, Oct 31 (Reuters) – The following scheduled economic events, equity and currency market moves may affect South African markets on Thursday.
ECONOMIC EVENTS
South Africa’s finance minister will address investors and a parliamentary committee after his mid-term budget speech on Wednesday.
Statistics South Africa will publish the September producer inflation figures.
Statistics South Africa will release the September trade balance data.
SOUTH AFRICAN MARKETS
The South African rand slipped on Wednesday as a keenly awaited budget speech by the finance minister failed to impress investors.
In the stock market, the Top-40 index closed 0.61% lower.
GLOBAL MARKETS
Asian stocks slid on Thursday as chip-sector stocks tracked overnight declines by Wall Street peers and Facebook owner Meta Platforms warned of accelerating costs for artificial intelligence.
WALL STREET
U.S. stock indexes closed lower on Wednesday as chip stocks tumbled and investors awaited a host of corporate earnings.
GOLD
Gold prices climbed to a record high on Thursday and were headed for their best month in seven on safe-haven demand ahead of the U.S. presidential election, while investors awaited U.S. inflation report for clues on the interest rate path.
– – – –
Some of the main stories out in the South African press:
BUSINESS DAY
– Eskom to challenge Nersa’s approval of four trading licences
FIN 24
– Godongwana’s gamble: How Treasury’s historic budget cuts aim to reboot SA’s economy
– Medium-term budget is a reality check, say economists
(Compiled by Tannur Anders)