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 announces its interest rates decision.
- Bureau for Economic Research second-quarter survey of inflation expectations
- Vodacom Group says quarterly group revenue up 3.9 percent.
South Africa’s rand retreated on Wednesday despite better than anticipated inflation and retail figures, as some investors booked recent profits ahead of an interest rate decision on Thursday.
Stocks firmed as platinum miners lifted the bourse.
Asian shares rose to their highest levels in nearly a decade on Thursday, bolstered by a surge in global markets, while the yen eased after the Bank of Japan reinforced expectations that it will keep massive stimulus in place far longer than other major central banks.
The major U.S. stock indexes closed at record highs on Wednesday helped partly by technology stocks, which surpassed a long-standing mark, despite gains on the Dow being capped by a sharp drop in IBM shares.
Gold prices edged lower on Thursday, with the dollar steady as markets looked to a meeting of the European Central Bank later in the day for clues on the outlook for its stimulus programme.
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Some of the main stories out in the South African press:
- Zwane’s plan could bring South Africa mining to a standstill
- Eskom has enough liquidity (Compiled by Olivia Kumwenda-Mtambo)