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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- South African Reserve Bank releases business cycle indicator, 0700 GMT.
- South Africa auctions 2.35 billion rand over 2023 ZAR2023=, 2031 ZAR213= and 2037 ZAR2037= bonds, 0900 GMT.
- South African power utility Eskom sells 200 million rand over EL30 and ES42 bonds, 0900 GMT.
ANGLO AMERICAN PLATINUM
Members of South Africa's Association of Mineworkers and Construction Union (AMCU) at Anglo American Platinum AMSJ.J will hold a strike to protest job cuts, AMCU President Joseph Mathunjwa said on Tuesday.
CAPITEC BANK HOLDINGS
The massmarket lender reported a 20 percent increase in first-half earnings on Wednesday and said its chief executive would retire at the end of this year.
Shares of the company will trade ex-dividend, or without the right to their latest dividend, from Wednesday.
SOUTH AFRICAN MARKETS
South African stocks inched lower ahead of a bank holiday on Tuesday but gold shares like Harmony were on the back foot as the spot price for bullion swayed on confusion over the outlook of U.S. monetary policy.
South Africa's rand firmed against the dollar on Monday but traded in a narrow range amid thin liquidity ahead of a public holiday on Tuesday.
Asian shares slipped and the dollar held steady against a basket of currencies in Asian trade on Wednesday, as concerns about a possible U.S. government shutdown and uncertainty about the Federal Reserve's policy outlook left investors hesitant to take aggressive positions.
The Dow and S&P 500 ended lower on Tuesday, extending their recent slide to a fourth session as worries over a possible U.S. government shutdown added to investor caution.
Gold ticked up for a second session on Wednesday, recovering after a 3 percent drop in as many days, but gains were limited by lacklustre physical demand and lingering uncertainty over the outlook for U.S. economic stimulus.
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Some of the main stories out in the South African press:
- Amcu reads riot act to Amplats over plan to cut jobs
- Sibanye seeks to improve efficiency, revive old mines
(Compiled by David Dolan) Keywords: MARKETS SAFRICA FACTORS/
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