ECONOMIC EVENTS Statistics South Africa to release February inflation figures at 0800 GMT
SOUTH AFRICAN MARKETS South African shares strengthened on Monday despite a global banking crisis as investors rushed into safe haven resource stocks, while the risk-sensitive rand weakened. Shares on the Johannesburg Stock Exchange rose, with the blue-chip Top 40 closing 2.68% higher while the broader all-share index ended up 2.4%. GLOBAL MARKETS Asian shares staged a cautious bounce on Wednesday with hopes a global banking crisis would be averted vying with uncertainty over the outlook for U.S. interest rates as the Federal Reserve holds a high-stakes meeting on policy. WALL STREET Wall Street closed sharply higher on Tuesday as widespread fears over liquidity in the banking sector abated and market participants eyed the Federal Reserve, which is expected to conclude its two-day policy meeting on Wednesday with a 25 basis-point hike to its policy rate. GOLD Gold prices traded in a narrow range on Wednesday as some investors stayed on the sidelines ahead of the U.S. Federal Reserve's interest rate decision and policy outlook. EMERGING MARKETS For the top emerging markets news, double click on - - - -
Some of the main stories out in the South African press:
BUSINESS DAY - Ramokgopa says power cuts make SA a hard sell - UK lifts ban on Bain outside SA bidding for official contracts
FIN 24 - BP will no longer refuel any planes at SA airports (Compiled by Bhargav Acharya)
