South African Markets - Factors to watch on Oct 7

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on Oct 7
Credit: © Reuters.

JOHANNESBURG, Oct 7 (Reuters) - The following scheduled economic indicators, political events, debt and currency market moves may affect South African markets on Wednesday.

ECONOMIC EVENTS

Reserves data

Business confidence data

POLITICAL EVENTS

COSATU calls strike

SOUTH AFRICAN MARKETS

South Africa's rand firmed slightly on Tuesday as risk appetite improved after U.S. President Donald Trump left hospital following treatment for COVID-19. 

GLOBAL MARKETS

Asian stock markets edged higher on Wednesday, brushing off Wall Street's weaker finish, which came after U.S. President Donald Trump abruptly broke off economic stimulus negotiations with lawmakers. 

WALL STREET

U.S. stocks ended down more than 1% on Tuesday after President Donald Trump said he was calling off negotiations with Democratic lawmakers on coronavirus relief legislation until after the election.

GOLD

Gold prices edged up on Wednesday, after hitting a one-week low in early trade, lifted by renewed fears over economic recovery and uncertainty around the U.S. presidential election after President Donald Trump's COVID-19 diagnosis. 

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

BUSINESS DAY

- Gold, PGMs underpin SA mining in brutal year

- Even high-end Woolworths (ASX: WOW ) customers default on repayments

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