The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday.
CORPORATE DIARY
LEWIS GROUP LEWJ.J reported a 10.7 percent rise in half-year earnings on Wednesday, driven by strong merchandise sales growth and on early benefits of its diversification strategy. PRICE GROUP LTD MRPJ.J has appointed corporate finance director Mark Stirton as group chief financial officer effective Jan.1, it said on Wednesday. SOLJ.J flagged an increase of as much as 29 percent in half-year profit on Wednesday, citing higher oil prices and favourable currency swings. AFRICAN MARKETS
South Africa's rand weakened on Tuesday in line with some other emerging market currencies as a dollar rally, trade tensions and U.S. Federal Reserve comments on global growth dimmed investor appetite for riskier assets. MARKETS
Asian stocks slid on Wednesday as intensifying concerns about global economic growth gripped financial markets, sending Wall Street shares and crude oil prices tumbling and driving the safe haven dollar up from a two-week low. MKTS/GLOB
WALL STREET
U.S. stocks sold off for a second day on Tuesday as energy shares dropped with oil prices, and retailers including Target (NYSE:TGT) and Kohl's sank after weak earnings and forecasts, fueling worries about economic growth. .N
GOLD XAU=
Gold prices eased slightly on Wednesday as the U.S. dollar was boosted by safe-haven demand as investors eyed U.S.-China tensions amid heightened risk aversion. GOL/
EMERGING MARKETS
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Some of the main stories out in the South African press:
BUSINESS DAY
- Gordhan tells of dirty tricks to get rid of him
- Zuma stands by Moyane in Constitutional Court case
BUSINESS REPORT
- Santaco acquires 25 percent stake in SA Taxi