South African Markets - Factors to watch on August 28

Reuters
08/28
South African Markets - Factors to watch on August 28

JOHANNESBURG, Aug 28 (Reuters) - The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Thursday.

ECONOMIC EVENTS

July producer inflation ZAPPIY=ECI figures

COMPANIES

Harmony Gold's annual profit jumps on record-high bullion prices

Impala Platinum restores dividend despite 70% profit plunge

Sibanye Stillwater half-year results

SOUTH AFRICAN MARKETS

The South African rand slipped on Wednesday as the dollar made a tentative rebound, while concerns lingered over the independence of the U.S. Federal Reserve.

On the Johannesburg Stock Exchange, the Top-40 index .JTOPI was last down 0.4%..JZAR/

GLOBAL MARKETS

Asian stocks experienced a volatile session on Thursday as worries over the outlook for artificial intelligence bellwether Nvidia's NVDA.O China business hit its regional suppliers, while igniting outsized gains in its Chinese rivals. MKTS/GLOB

WALL STREET

The S&P 500 notched a record high close on Wednesday ahead of quarterly results from Nvidia, Wall Street's most closely watched event this week, which will test the rally that has pushed valuations of AI-related companies to levels that some investors view as too high..N

GOLD

Gold held firm near a more than two-week peak on Thursday, supported by a weaker dollar and U.S. interest rate cut prospects as market participants awaited U.S. inflation data due this week.GOL/

EMERGING MARKETS

For the top emerging markets news, double click on nTOPEMRG

- - - -

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

BUSINESS DAY

- SA urges EU to reconsider CBAM, citing concessions made to US

- South32 bets big on Hermosa after doubling headline earnings

- Record canola harvest reinforces SA’s status as net exporter

(Compiled by Sfundo Parakozov and Anathi Madubela)

((Sfundo.Parakozov@thomsonreuters.com))

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