(Fixes typo in Sibanye Gold’s name) The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday.
- South Africa private sector credit demand and money supply data.
- Sibanye Gold half-year results.
- Sun International full-year results.
- Santam reports half-year results.
South Africa’s rand broke past a key level on Tuesday, recovering from early concerns about North Korea’s missile launch, while gold stocks rose in a generally lower session.
The dollar rebounded from a 2-1/2-year low on Wednesday, and Asian stocks took their cue from Wall Street’s higher close, as concerns about North Korea’s firing of a missile over Japan ebbed.
Major U.S. stock indexes ended higher on Tuesday after recovering from steep early losses triggered by fears that hostilities in the Korean Peninsula could escalate.
Gold rose on Wednesday as safe-haven demand was buoyed by expectations that geopolitical tensions could persist, although further gains were capped as the dollar recovered slightly amid perception of a brief lull in tensions surrounding North Korea.
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Some of the main stories out in the South African press:
- Gigaba: state may dip into PIC funds
- New homeowners not liable for historical debt
- Deloitte in Gigaba fracas (Compiled by Olivia Kumwenda-Mtambo)