The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday.
- South African Chamber of Commerce and Industry’s (SACCI) monthly business confidence index for November. 0930 GMT
- Steinhoff Q4 results.
South African listed shares fell on Tuesday after a U.S law firm launched an investigation into media and e-commerce giant Naspers, while the rand and government bonds were little changed ahead of next week’s ruling party leadership vote.
The benchmark Top-40 index .JTOPI fell 1.25 percent to 52,413 points, while the All-Share index .JALSH was 1.06 percent lower at 58,977 points.
Asian stocks slipped on Wednesday, dragged by losses on Wall Street as the technology sector stuttered yet again after a brief rebound, while the dollar sagged on lower long-term U.S. yields.
Wall Street fell on Tuesday as a technology rebound lost steam and Walt Disney Co DIS.N shares dipped, while investors assessed how a Republican U.S. tax overhaul would impact corporate earnings.
Gold was mostly unchanged in Asian trade on Wednesday after sliding to a two-month low in the previous session, despite a slightly weaker dollar.
Spot gold XAU= was steady at $1,266.28 an ounce by 0352 GMT. The session before, it hit its lowest since Oct. 6 at $1260.71.
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Some of the main stories out in the South African press:
- U.S. lawyers to investigate Naspers pay-TV arm MultiChoice over payments to national broadcaster.
- President Jacob Zuma linked to executive axings at power utility Eskom.
- Focus on nuclear build plan at Energy conference.