South African Markets - Factors to watch on Aug 25
Aug 25 (Reuters) - The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Thursday.
Statistics South Africa to release South Africa's July month-on-month and year-on-year producer price inflation (PPI) at 0930 GMT
S.African drugmaker Adcock Ingram's full-year profit rises 24%
South Africa's Distell reports 36.7% rise in full-year profit
S.Africa's Gold Fields half-year profit up 29%
SOUTH AFRICAN MARKETS
South Africa's rand firmed on Wednesday after data showed consumer inflation accelerated in July, signalling the likelihood of domestic interest rates hikes.
On the stock market, the Top-40 .JTOPI index rose 0.07% to 63,079 points, while the broader all-share .JALSH was up 0.05% to 69,808 points.
Asian share markets were broadly positive while the dollar was slightly weaker on Thursday, with investors nervously awaiting the U.S. Federal Reserve's annual Jackson Hole conference for clues on how sharp future interest rate hikes might be.
Wall Street ended higher on Wednesday, lifted by gains in energy stocks and Intuit while investors awaited the U.S. Federal Reserve's Jackson Hole conference this week.
Gold prices rose on Thursday, supported by a pullback in the dollar, while investors awaited guidance on interest rates by the U.S. Federal Reserve from a key central bankers' meet at Jackson Hole, Wyoming this week.
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Some of the main stories out in the South African press:
- Workers voice their frustration over soaring cost of living
- Exemplar reopening first part of KZN mall damaged in July unrest
- Watchdog worried that retailers didn't pass cost cuts for bread on to consumers (Compiled by Bhargav Acharya)