May 22, 2014 / 5:36 AM / 3 years ago

South African Markets - Factors to watch on May 22

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday.

ECONOMIC EVENTS

- South African Reserve Bank announces its decision on interest rates. 1300 GMT

CORPORATE EVENTS

For South Africa corporate diary, click on

- Tsogo Sun J.J> reported an 18 percent rise in full-year adjusted headline EPS to 176.5 cents.

- Stefanutti Stocks reported a 28 percent fall in full-year normalised headline EPS.

- SABMiller, African Oxygen and Investec are all due to report earnings

SOUTH AFRICAN MARKETS

Stocks inched higher on Wednesday after long-suffering platinum producers such as Anglo American Platinum AMSJ.J recovered on hopes court-mediated talks may end a bruising industry strike.

The rand edged firmer against the dollar on Wednesday, boosted by higher-than-expected inflation data that led foreign currency traders to price in an interest rate increase this week.

GLOBAL MARKETS

Asian shares and the Australian dollar rose on Thursday after an upbeat reading on China’s factory sector blunted some of the more pessimistic views on the world’s second-biggest economy, supporting risk appetite already burnished by a strong session on Wall Street.

WALL STREET

U.S. stocks rose on Wednesday, rebounding from the previous day’s broad selloff, after minutes of the Federal Reserve’s last meeting showed central bankers have discussed the eventual tightening of monetary policy but made no decisions on which tools to use.

GOLD

Gold held steady on Thursday but was at risk of dropping as holdings in the top bullion-backed fund fell the most in three weeks to a fresh five-year low.

EMERGING MARKETS

For the top emerging markets news, double click on

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

BUSINESS DAY

- Tiger Brands wary of African assets after Nigerian misadventure

- Inflation’s rise shows no signs of slowing

- UK’s Pearson targets South African education sector.

BUSINESS REPORT

- Tongaat Hulett estates occupied in Zimbabwe (Compiled by Tiisetso Motsoeneng)

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