(Adds dropped letter in third paragraph) The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday.
- South Africa’s central bank announces lending rate decision. 1300 GMT
- Spar half-year results.
- Investec Full-year results.
South Africa’s rand edged up on Wednesday as global risk appetite improved on hopes of an economic recovery, though investors remained cautious a day ahead of a central bank rate decision.
Stocks continued their upward trajectory, following other global markets on renewed optimism of economies opening up and increasing demand.
Asian shares stepped back slightly and U.S. stock futures fell on Thursday as lingering caution about the long-term impact of the coronavirus outbreak offset some of this week’s enthusiasm over re-opening of economies.
The three major averages on Wall St notched their fourth gain in five sessions on Wednesday as investors again bet on a swift economic recovery from coronavirus-driven lockdowns and the potential for more stimulus measures from the Federal Reserve.
Gold fell on Thursday, pressured by hopes of a swift recovery from the coronavirus-driven recession although losses were capped by prospects of more stimulus and bleak data.
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Some of the main stories out in the South African press:
- Social bond could target R100 bln to help Covid-19 response.
- Ninety One CEO sees increased appetite for risk after ‘tough’ period.
- Construction industry capacity only operating at roughly 15% in Level 4.