JOHANNESBURG, Sept 5 (Reuters) – The following scheduled economic event, company announcements, equity and currency market moves may affect South African markets on Thursday.
ECONOMIC EVENTS
Q2 current account data
COMPANIES
South Africa’s Harmony Gold increased its dividend on Thursday as it reported a 132% jump in annual profit, boosted by higher gold production, better grades and record prices.
South African insurer Sanlam will report its half-year results.
SOUTH AFRICAN MARKETS
The South African rand strengthened against a weaker dollar on Wednesday, after U.S. jobs data showed a softening labour market.
On the stock market, the Top-40 index closed 0.37% lower.
GLOBAL MARKETS
Asian share markets tried to regain their footing on Thursday after a steep sell-off, while a rally in Treasuries dented the dollar and lifted the yen as U.S. economic worries raised the odds of the Federal Reserve going big on rate cuts.
WALL STREET
U.S. stocks finished slightly lower in choppy trading on Wednesday following labor market data and comments from a Federal Reserve official that bolstered the case for an interest rate cut.
GOLD
Gold was little changed on Thursday as investors kept to the sidelines ahead of U.S. payrolls data that could provide more clues on the size of an expected rate cut this month.
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Some of the main stories out in the South African press:
BUSINESS DAY
– Rich South Africans flock to Portugal for stability
– IMF adopts a more upbeat tone on SA
(Compiled by Tannur Anders)