South African Markets - Factors to watch on Jan. 27

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on Jan. 27
Credit: © Reuters.

JOHANNESBURG, Jan 27 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday.

Companies

- Clicks Group Ltd ( CLSJ.J ) annual shareholders' meeting

- Life Healthcare Group Holdings Ltd ( LHCJ.J ) annual shareholders' meeting

South African Markets

South Africa's rand firmed by more than 1% on Tuesday in a return of risk appetite globally as investors continued to weigh the benefits of fiscal stimulus and coronavirus vaccine rollouts over concerns about second and third wave infections.

The Johannesburg All-Share index (.JALSH) fell 0.99% to 63,923 points after hitting an all time high of 65,346 points in the previous session, while the Top-40 index (.JTOPI) declined 1.16% to 58,720 points from a record high of 60,264 points. 

Global Markets

Asian equities slipped on Wednesday as investors looked to the Federal Reserve's guidance on its monetary policy while futures for U.S. tech shares jumped after strong earnings from Microsoft (NASDAQ: MSFT ). 

Wall Street

The S&P and Nasdaq slipped on Tuesday from record closing levels as investors digested a batch of corporate earnings results, while an expected policy announcement from the Federal Reserve on Wednesday helped to limit moves. 

Gold

Gold prices edged lower on Wednesday, weighed by a firmer dollar, as markets awaited the U.S. Federal Reserve's monetary policy decision and developments around a stimulus package in the world's largest economy. 

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

Business Day

- The SA Real Estate Investment Trust (Reit) Association is in talks with its members about their plans to survive the Covid-19 pandemic by withholding dividend payments.

- The IMF revised downwards SA's economic growth projections for the year and expects GDP expansion to be almost a percentage point lower than the Reserve Bank's most recent forecasts.

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