The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday.
- The South African Reserve Bank holds media briefing to announce its interest rates decision at 1300 GMT.
- Mr Price Group expects Q4 trading environment to remain challenging.
- Woolworths Holdings sees 2018 HEPS 196 to 206.3 cents.
South Africa’s rand and local stocks strengthened on Wednesday as retail sales rose more than expected, helping ease concerns over dismal mining data a day earlier.
Asian stocks nudged higher on Thursday after see-sawing through a subdued session on concerns over China’s economic outlook, while an anti-climactic end to the latest chapter in the Brexit saga offered sterling a moment’s peace.
Wall Street’s major indexes hit one-month highs on Wednesday as strong earnings from Bank of America Corp and Goldman Sachs Group Inc boosted investor sentiment.
Palladium rose to a record high on Thursday on lower supply and increasing demand for the metal used in auto catalysts, while a firmer dollar offset expectations of a pause in the U.S. Federal Reserve’s rate-hiking cycle, keeping gold steady.
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Some of the main stories out in the South African press:
- Bosasa ‘paid millions in bribes each month’
- Reserve Bank will remain independent - Ramaphosa
- South Africa in scramble to lure new investments (Compiled by Olivia Kumwenda-Mtambo)