South African Markets - Factors to watch on February 4

Reuters13:34
South African Markets - Factors to watch on February 4

JOHANNESBURG, Feb 4 (Reuters) - The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Wednesday.

ECONOMIC EVENTS

South Africa's S&P purchasing managers' index ZAPMIM=ECI

COMPANIES

Vodacom trading update for quarter ended December 31

Rainbow chicken trading update for six months ended December 28

SOUTH AFRICAN MARKETS

The South African rand strengthened on Tuesday, helped by the bounce in commodity prices, which has led it back below 16.00 rand/dollar..JZAR/

On the Johannesburg Stock Exchange, the Top-40 index .JTOPI was last up 1.2%.

GLOBAL MARKETS

Asian stocks were on shaky ground on Wednesday, following steep losses in U.S. and European equities on fears that advancements in artificial intelligence could supplant traditional software.MKTS/GLOB

WALL STREET

Wall Street ended sharply lower on Tuesday as investors worried about AI creating more competition for software makers, keeping them on edge ahead of quarterly reports from Alphabet and Amazon later this week..N

GOLD

Gold prices extended gains on Wednesday on safe-haven appeal, as renewed geopolitical tensions between the U.S. and Iran added to the yellow metal's recent upswing that saw it mark its best day since 2008 in the previous session.GOL/

EMERGING MARKETS

For the top emerging markets news, double click on nTOPEMRG

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Some of the main stories out in the South African press:

BUSINESS DAY

- Proposed rules cap private cannabis possession at 750g

- Parliament seeks R120m to help SABC cover local government elections

NEWS24

- Eskom sets steep price for assets following bungled investor call

(Compiled by Anathi Madubela)

((Anathi.Madubela@thomsonreuters.com))

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