ECONOMIC EVENTS South Africa's S&P Global PMI at 0715 GMT
SOUTH AFRICAN MARKETS South Africa's stocks jumped on Tuesday while the rand slipped after a decision by major oil producers to reduce supply on Sunday, which triggered concerns about a slowdown in global economic growth.
Both the blue-chip Top 40 index and the benchmark all-share index closed more than 1% higher. GLOBAL MARKETS Stocks struggled to make headway on Wednesday, the dollar nursed losses and bonds clung to gains, as signs of a slowing U.S. labour market made investors nervous about the economic outlook, while a bigger-than-expected rate hike lifted the kiwi dollar. WALL STREET Wall Street closed lower on Tuesday after evidence of a cooling economy exacerbated worries that the Federal Reserve's campaign to rein in decades-high inflation may cause a deep downturn. GOLD Gold prices edged higher on Wednesday to touch their highest levels since March 2022 after weak U.S. economic data spurred safe-haven demand and expectations that the Federal Reserve might loosen its monetary policy trajectory. EMERGING MARKETS For the top emerging markets news, double click on - - - -
Some of the main stories out in the South African press:
BUSINESS DAY - Eskom and Transnet exemptions will revive state capture, says Cosatu - Nampak gets temporary reprieve from lenders (Compiled by Bhargav Acharya)
