South African Markets - Factors to watch on October 22

By Reuters News

JOHANNESBURG, Oct 22 (Reuters) - The following equity and currency market moves may affect South African markets on Thursday.


SOUTH AFRICAN MARKETS

South African bonds rallied on Wednesday after the government unveiled plans to cut weekly fixed-rate bond auctions and launch a bond buyback programme, while the rand was little changed following the announcement of two months of fuel price relief.

On the Johannesburg Stock Exchange, the Top-40 index .JTOPI was last down 0.4%..JZAR/


GLOBAL MARKETS

Asian stocks struggled to stay above water in early trade on Thursday, as tech earnings optimism provided only fleeting support amid lingering concerns over AI and uncertainty in the Gulf.MKTS/GLOB


WALL STREET

The tech-heavy Nasdaq led Wall Street to a higher close on Wednesday after quarterly results from SpaceX and Super Micro Computer improved investor appetite for artificial intelligence-related stocks while weakness in communication services stocks capped gains..N


GOLD

Gold fell more than 1% on Thursday as rising oil prices stoked inflation concerns and reinforced expectations that interest rates could stay higher for longer, while investors awaited next week's Federal Reserve meeting for clues on the policy outlook.GOL/


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


BUSINESS DAY

- Reserve Bank paves way for R10-trillion in offshore assets to be managed from SA


NEWS24

- SA’s fiscal fire is at last under control. But will growth ever ignite?

- Govt backs South African Airways with 1 billion rand ($60.99 million) after jet fuel shock



($1 = 16.3972 rand)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.