South African Markets-Factors to watch on Sept 19
JOHANNESBURG, Sept 19 (Reuters) -The following scheduled economic event, company announcement, equity and currency market moves may affect South African markets on Thursday.
ECONOMIC EVENTS
The South African Reserve Bank will announce its interest rate decision.
COMPANIES
South African insurer Discovery will report its full-year results.
SOUTH AFRICAN MARKETS
The South African rand firmed to a near 14-month high on Wednesday ahead of the U.S. Federal Reserve's interest rate cut and after the local inflation rate fell more than expected.
On the stock market, the Top-40 .JTOPI index closed 0.44% lower..JZAR/
GLOBAL MARKETS
The U.S. dollar bounced, long-dated bond yields were up and Asian stocks rose after the Federal Reserve announced a 50 basis point rate reduction and flagged that its easing cycle would be measured.MKTS/GLOB
WALL STREET
U.S. stocks closed with modest losses on Wednesday, well off their intraday highs, after the Federal Reserve cut interest rates by 50 basis points, the high side of estimates for its first cut in more than four years..N
GOLD
Gold prices held steady on Thursday after hitting a record high in the previous session, following the Federal Reserve's super-sized interest rate cut.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
- Reserve Bank has ‘ample space’ to cut rates
- Consumers get relief from a drop in blackouts but battle with rising prices
Compiled by Tannur Anders; Editing by Sumana Nandy
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