South African Markets - Factors to watch on Sept 4
JOHANNESBURG, Sept 4 (Reuters) -The following scheduled economic event, company announcement, and equity and currency market moves may affect South African markets on Wednesday.
ECONOMIC EVENTS
S&P Global Whole Economy PMI for August
COMPANIES
South African upmarket fashion and food retailer Woolworths WHLJ.J reported a 16.8% decline in full-year headline earnings on weak sales, as higher living costs continue to weigh on discretionary spend.
SOUTH AFRICAN MARKETS
The South African rand weakened on Tuesday after data showed the country's second-quarter economic growth was slightly weaker than expected.
On the stock market, the Top-40 .JTOPI index closed 1.6% lower. .JZAR/
GLOBAL MARKETS
Asian shares and global stock futures tumbled on Wednesday, led by a heavy decline in technology names and as worries about the global growth outlook drove investors out of risky assets, while oil prices hit multi-month lows. MKTS/GLOB
WALL STREET
U.S. stocks slumped on Tuesday, at the start of one of the market's historically worst months, ahead of data likely to influence how much the Federal Reserve will lower interest rates. .N
GOLD
Gold prices held steady on Wednesday as investors braced for a monthly U.S. payrolls report that could influence how swiftly and deeply the Federal Reserve cuts interest rates this year. GOL/
EMERGING MARKETS
For the top emerging markets news, double click on nTOPEMRG
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Some of the main stories out in the South African press:
BUSINESS DAY
- ‘Worst is probably behind us’ after modest lift in GDP
FIN 24
- MPs stunned as Post Office warns of liquidation within a month without R4bn bailout
(Compiled by Tannur Anders)
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