JOHANNESBURG, Sept 25 (Reuters) – The following scheduled economic event, equity and currency market moves may affect South African markets on Wednesday.
ECONOMIC EVENTS
The South African Reserve Bank will publish the country’s leading indicator for July
SOUTH AFRICAN MARKETS
South Africa’s rand strengthened to a fresh 20-month high against the dollar on Monday after a slight hiccup in the morning session.
On the stock market, the Top-40 index closed up 1.22%.
GLOBAL MARKETS
Chinese stocks made brisk gains on Wednesday, extending their stimulus-fueled rally to a second day, even as equities in the rest of the region struggled and crude oil retreated from a multi-week high.
WALL STREET
The S&P 500 and Dow ended at record highs on Tuesday, shrugging off weak consumer confidence data, as mining stocks surged following China’s announcement of a sweeping stimulus package.
GOLD
Gold hit a record high on Wednesday, boosted by a softer U.S. dollar and hopes of more interest rate cuts, while investors looked for new signals for the Federal Reserve’s interest rate trajectory.
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Some of the main stories out in the South African press:
BUSINESS DAY
– Eskom targets revenue of R1.4-trillion from 2026-2028
– Musk says he had ‘great meeting’ with Ramaphosa
FIN 24
– SA manufacturers fear they are paying the price for Pretoria’s cosy relationship with Beijing
– Huawei’s SA workforce is now majority local, from 90% foreign two years ago
(Compiled by Bhargav Acharya)
