South African Markets - Factors to watch on April 29

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on April 29
Credit: © Reuters.

The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Thursday.

ECONOMIC EVENTS

Statistics South Africa releases March producer price inflation data at 0930 GMT

COMPANIES

South African petrochemical firm Sasol (JO: SOLJ ) SOLJ.J said on Thursday that headline earnings per share (HEPS) for the year that ended June 30 is expected to improve by at least 20%.

AFRICAN MARKETS

South Africa's rand firmed on Wednesday as the global hunt for high yields trumped caution ahead of the U.S. Federal Reserve's latest policy decision which will likely set the tone for global currency trading in the coming sessions.

GLOBAL MARKETS

Asian shares extended gains on Thursday after the Federal Reserve said it was too early to consider rolling back emergency support for the economy, and U.S. President Joe Biden proposed an $1.8 trillion stimulus package.

WALL STREET

Wall Street ended lower on Wednesday after the U.S. Federal Reserve held interest rates and its monthly bond-buying program steady and gave no sign it was ready to reduce its support for the recovery.

GOLD

Gold prices rose on Thursday as the dollar weakened after the U.S. Federal Reserve decided to keep interest rates low for the foreseeable future even though it took a brighter view of the economic recovery.

Some of the main stories out in the South African press:

BUSINESS DAY

- Acsa lifts suspension on cash-strapped Mango

- Absa (JO: ABGJ ) begins to plug the gaps in its executive team

FIN 24

- SAA Technical starting retrenchment process that could cut more than half its staff

- ANALYSIS | Should govt have tried to save Mango instead of SAA?

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