off-the-wire

South African Markets - Factors to watch on Feb. 1

Kitco Media
By Reuters
Published:
Updated:
Reuters
JOHANNESBURG, Feb 1 (Reuters) - The following scheduled economic events, equity and currency market moves may affect South African markets on Wednesday. ECONOMIC EVENTS Absa monthly PMI for South African manufacturing activity South Africa January vehicle sales figures at 1200 GMT SOUTH AFRICAN MARKETS The South African rand was little changed on Tuesday as the country continued to struggle with rolling power outages.


On the Johannesburg Stock Exchange, the All-share index lost more than 1% on Tuesday. GLOBAL MARKETS Asia's stock markets steadied on Wednesday, with signs of a slowdown in U.S. wages bolstering hopes that the Federal Reserve could hint at an end to interest rate hikes at its meeting later in the day. WALL STREET Major U.S. stock indexes closed over 1% higher on Tuesday as labor cost data encouraged investors about the Federal Reserve's aggressive approach to taming inflation a day ahead of the central bank's critical policy decision. GOLD Gold traded in a narrow price range on Wednesday, as investors refrained from taking big bets ahead of the U.S. Federal Reserve's policy decision due later in the day. EMERGING MARKETS For the top emerging markets news, double click on - - - -


Some of the main stories out in the South African press: BUSINESS DAY - Joburg's rising property prices signal hike in rates and taxes FIN 24 - Shoprite hikes prices by more than 9% amid spiralling food inflation, load shedding costs (Compiled by Nellie Peyton;)

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