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 foreign exchange reserves data for July. 0600 GMT
- South African Reserve Bank Deputy Governor Daniel Mmninele speaks at a South Africa-China Capital Market Forum. 1600 GMT
- PPC Ltd plans to buy a controlling stake in an unlisted domestic rival for about 350 million rand ($35.30 million), it said on Wednesday.
- Transaction Capital Ltd is to sell its payment services unit, Paycorp, to private equity firm Actis for 937 million rand ($95 million), it said on Wednesday.
- AngloGold Ashanti quarterly results
SOUTH AFRICAN MARKETS
South African stocks closed lower on Tuesday, with gold producers Gold Fields GFIJ.J and Harmony Gold HARJ.J sliding after bullion hit a 2-1/2-week low, as upbeat U.S. and European economic dented the metal's appeal as a safe haven.
South Africa's rand fell as much as 0.9 percent against the dollar on Tuesday as weaker commodity prices weighed on the currencies of emerging markets that export the bulk of their products.
Asian stocks fell to their lowest in a month on Wednesday following a second day of losses on Wall Street, led by a steep decline in the Nikkei as a firmer yen took a toll on Japanese exporters.
U.S. stocks slid for a second consecutive day on Tuesday after comments from a pair of U.S. Federal Reserve officials left investors uncertain about the timing of a possible reduction in its bond-buying program.
Gold extended losses into a third session on Wednesday, falling to a three-week low after strong U.S. trade data and comments by a Federal Reserve official stoked fears the central bank could start tapering its stimulus from next month.
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Some of the main stories out in the South African press:
- State moots huge fines to enforce employment equity laws
- Pick n Pay sheds staff to cut operating costs
- Knott-Craig unravels in Please Call Me case
(Compiled by Tiisetso Motsoeneng) Keywords: MARKETS SAFRICA FACTORS/
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