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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- Tiger Brands announces new CEO
- EOH Holdings says H1 headline EPS up 24 pct
South Africa’s rand eased on Tuesday after data showed a widening current account deficit, while stocks were spooked by brittle Chinese trade figures that sent Kumba Iron Ore KIOJ.J shares into a tailspin.
Sharp losses in Chinese stocks pulled Asian equities further away from two-month highs on Wednesday, as weak trade figures from the world’s second-biggest economy and a retreat in oil prices revived concerns about global growth.
U.S. stocks ended near the lows of the day on Tuesday as energy shares tumbled alongside the price of oil and soft Chinese trade data rekindled fears that the global economy is weaker than anticipated.
Gold edged lower on Wednesday, slipping with the euro as expectations that the European Central Bank is almost certain to ease policy this week weighed on the single currency.
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Some of the main stories out in the South African press:
- Deficit and rand dilemma for Bank
- Spending slows as hard times hit South Africa
- South Africa mine sector’s revival unlikely (Compiled by Zandi Shabalala)