JOHANNESBURG, April 7 (Reuters) – The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Wednesday.
– South Africa Business Confidence Index numbers
SOUTH AFRICAN MARKETS
South Africa’s rand edged firmer to a new five-week best on Tuesday, boosted by greater risk demand as U.S. treasuries slipped and global commodity prices rallied.
The Johannesburg Stock Exchange (JSE) extended its run of gains as positive growth indicators in the United States and China pumped momentum into shares globally.
A gauge of Asian shares climbed to three-week highs on Wednesday as investors eyed the upcoming earnings season for further signs of a global economic recovery, while the dollar slipped to a two-week low.
The S&P 500 slipped on Tuesday but stayed near closing record highs posted in consecutive sessions, as investors weighed more strong U.S. economic data against nervousness about upcoming quarterly earnings reports.
Gold prices fell on Wednesday, from a two-week high hit in the previous session, as an array of strong data from the United States and increased COVID-19 vaccinations lifted hopes of a quick economic recovery, weighing on the metal’s safe-haven appeal.
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Some of the main stories out in the South African press:
– Cement maker PPC shares crumble on news of JSE investigation
– Vodacom Group drops data prices to increase traffic volumes
(Compiled by Promit Mukherjee)
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