SOUTH AFRICAN MARKETS South Africa's rand strengthened on Wednesday as the U.S. dollar slipped ahead of a highly anticipated interest rate decision by the U.S. Federal Reserve. On the JSE, the blue-chip Top 40 closed 1.4% higher while the broader all-share index ended up 1.3%. GLOBAL MARKETS Asian shares inched higher on Thursday after the Federal Reserve hinted it could pause interest rate hikes following turmoil in the banking sector, though it also reiterated its commitment to fighting sticky inflation. WALL STREET Wall Street gyrated to end sharply lower on Wednesday after the U.S. Federal Reserve delivered a widely expected 25 basis point policy hike, while hinting that it was on the verge of pausing future increases in view of recent turmoil in the financial sector. GOLD Gold prices advanced on Thursday after the U.S. Federal Reserve hinted it was nearing a pause in its rate-hike cycle, making the safe-haven asset a more attractive bet in a future low interest environment. EMERGING MARKETS For the top emerging markets news, double click on - - - -
Some of the main stories out in the South African press:
BUSINESS DAY - 'Give them hell': Steinhoff shareholders reject debt restructuring deal - BP to quit all its aviation activities in SA, but stays silent on Russia (Compiled by Bhargav Acharya)
