The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday.
- Statistics South Africa publishes December mining production. 0930
- City Lodge Hotels Half Year Earnings Release.
- Jasco Electronics Holdings Half Year Earnings Release.
South Africa’s rand sank more than 1 percent on Wednesday as concerns over state power firm Eskom were compounded by a firming dollar after a measure of U.S. inflation came in stronger than expected.
Stocks rose as rand-hedged shares, which make the bulk of their revenue outside South Africa and tend to rise as the currency weakens, benefited from a fall in the rand.
Asian stock markets were in a cautious mood on Thursday as investors hung on for any hint of progress in the latest Sino-U.S. tariff talks amid reports the White House could extend the deadline for a deal.
Wall Street closed higher on Wednesday as investor optimism was stoked over hopes the United States and China could iron out a trade deal, and benign inflation data suggested the Federal Reserve would hold interest rates steady in the near term.
Gold prices edged higher on Thursday as soft U.S. inflation data raised expectations that the Federal Reserve will pause rate hikes this year, while investors were looking for developments in trade talks between Washington and Beijing.
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Some of the main stories out in the South African press:
- HIV wonder drug delayed again.
- Parliament withdraws telecoms law controlling internet infrastructure.
- Audit of South African Airways ongoing - Public Enterprises Minister.