South African Markets - Factors to watch on June 14

Spar

14/06/2023 06:47

JOHANNESBURG, June 14 (Reuters) - The following
scheduled economic events, company announcements, equity and
currency market moves may affect South African markets on
Wednesday.
    
    ECONOMIC EVENTS
    Statistics South Africa to release April retail sales
figures
    
    COMPANIES
    South African food retailer Spar  SPPJ.J  on Wednesday
posted a 30.3% fall in its half-year earnings, led by
inflationary pressures on consumers and increased operational
costs arising from rolling blackouts.
    
    SOUTH AFRICAN MARKETS
    The South African rand was little changed on Tuesday as the
dollar slipped ahead of a Federal Reserve monetary policy
meeting.
    On the Johannesburg Stock Exchange, both the blue-chip
Top-40 index  .JTOPI  and the broader all-share index  .JALSH 
ended over 2% higher.  .J  ZAR/ 
    
    GLOBAL MARKETS
    Asian shares rose and the dollar was under pressure on
Wednesday after slowing U.S. inflation solidified bets that the
Federal Reserve would skip a hike later in the day, but
uncertainty remained about further rate increases beyond this
week.  MKTS/GLOB 
    
    WALL STREET
    The S&P 500 and Nasdaq reached their highest closes in 14
months on Tuesday after data showed consumer prices rose
modestly in May, boosting bets that the Federal Reserve will not
raise interest rates on Wednesday.  .N 
    
    GOLD
    Gold prices edged up on Wednesday, helped by a softer dollar
as investors looked to the Federal Reserve's much-awaited policy
decision after the U.S. inflation print cemented bets for a
pause in interest rate hikes.  GOL/ 
    
    EMERGING MARKETS
    For the top emerging markets news, double click on
 urn:newsml:reuters.com:*:nTOPEMRG
    - - - - 
    Some of the main stories out in the South African press:
    
    BUSINESS DAY
    - Protection services delayed before Russia peace mission
    
    FIN 24
    - Top US legislators demand SA be punished for Russian
support
    - SAA deal in sight as Takatso minorities agree to sell

 (Compiled by Anait Miridzhanian)
 ((Anait.Miridzhanian@thomsonreuters.com;))