African markets

South African Markets – Factors to Watch for November 3

The following scheduled political events, business announcements, stock market and currency movements could affect South African markets on Wednesday.

POLITICAL EVENTS

– South Africa continues to count the votes after the municipal elections on Monday, with partial results showing Tuesday that the ruling African National Congress (ANC) was on track to ensure its share of the vote nationwide falls below 50% for the first time.

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COMPANIES

– Mr Price Group (MRPJ.J) sees half-yearly earnings per share over 30% to 40%.

– Dis-Chem Pharmacies (DCPJ.J) publishes its half-year results.

– Arcelormittal South Africa (ACLJ.J) reports third quarter results.

SOUTH AFRICAN MARKETS

The South African rand fell on Tuesday, as markets awaited the first results of Monday’s municipal elections and ahead of several key global central bank meetings that could set the tone for risk appetite for next year.

WORLD MARKETS

Global stocks hovered at record highs as currency markets and U.S. Treasuries were flat on Wednesday, as investors considered the expected end of pandemic-era monetary stimulus in the world’s largest economy .

WALL STREET

Major Wall Street indices rose to record highs on Tuesday as a strong earnings season continued to bolster sentiment for equities, as investors eagerly awaited the results of a critical Federal Reserve meeting .

GOLD

Gold prices edged down on Wednesday as investors awaited the outcome of a U.S. Federal Reserve policy meeting to assess how the central bank plans to tackle rising inflation and allay concerns regarding economic recovery.

EMERGING MARKETS

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Compiled by Olivia Kumwenda-Mtambo

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