The following company announcements, scheduled economic
indicators, debt and currency market moves and political events
may affect South African markets on Wednesday.
– South Africa inflation data for November due at 0800 GMT.
South Africa’s Steinhoff is considering selling
stakes worth a combined $1.4 billion in local companies PSG
Group and KAP Industrial to help plug a liquidity gap at the
retailer, two sources familiar with the matter told Reuters on
SOUTH AFRICAN MARKETS
South Africa’s rand weakened on Tuesday as an upcoming
conference of the ruling African National Congress (ANC) party
to pick a new leader and bets of higher interest rates in the
United States kept investors cautious. Stocks fell with
investment holding firm PSG Group among the decliners
after sources told Reuters Steinhoff is considering PSG and KAP
Industrial stake sales.
U.S. stock futures, Treasury yields and the dollar fell on
Wednesday as Democrat Doug Jones beat Republican Roy Moore in a
bitter U.S. Senate race in Alabama, while Asian shares edged up
as crude oil futures took back lost ground.
U.S. S&P futures extended earlier losses on Wednesday, as
Democrat Doug Jones took a slight lead over Republican Roy Moore
with about 86 percent of the vote counted in a bitter U.S.
Senate race in Alabama.
Gold traded within a range on Wednesday after hitting the
lowest in nearly five months in the previous session, with
investors in a holding pattern ahead of the outcome of a two-day
meeting of the U.S. Federal Reserve.
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