The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday.
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- Statistics South Africa releases retail sales data for December. 1100 GMT
- South African power utility Eskom sells up to 350 million rand of its 2029 inflation-linked bond and its 2033 vanilla bond.
- Group Five Interim results
- City Lodge Interim earnings
SOUTH AFRICAN MARKETS
South African stocks drifted lower on Tuesday, weighed down by retailers due to growing worries about the health of a credit-led consumer spending spree after a major bank reported a spike in written-off debts.
South Africa's rand was weaker against the dollar on Tuesday, hit by a fresh wave of risk aversion after North Korea raised global political tension by testing a nuclear bomb.
Asian shares outside of Japan rose on Wednesday, led by South Korean exporters as the yen firmed amid conflicting interpretations of G7 comments about the currency's recent weakness.
U.S. stocks closed modestly higher on Tuesday, putting the Dow within striking distance of an all-time high, as investors looked ahead to President Barack Obama's State of the Union address.
Gold was little changed on Wednesday after falling to a 1-month low in the previous session, with investors likely to watch currencies for direction, while palladium held near its highest in 17 months as supply concerns sparked speculative buying.
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Some of the main stories out in the South African press:
- Implats in the dark about land seizure in Zimbabwe
- No bonuses for top executives at Absa
- Supply deals hang SAA chief
- Silence on debt will be elephant in room of Zuma speech - Major
Keywords: MARKETS SAFRICA FACTORS/
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