African markets

South African Markets – Factors to Watch November 24

JOHANNESBURG, November 24 – The following expected economic events, company announcements, equity and currency market movements could affect South African markets on Wednesday.

COMPANIES

Crookes Brothers (CKSJ.J), Acsion (ACSJ.J) and Lewis Group (LEWJ.J) will release or have released their half-year results. Tsogo Sun (TGOJ.J) will report its second quarter results. Arrowhead Properties has published its performance for the full year.

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SOUTH AFRICAN MARKETS

The South African rand slipped further on Tuesday, trading near a one-year low, as the dollar resisted bets on U.S. interest rate hikes following the appointment of the Federal Reserve chairman, Jerome Powell, for a second term.

WORLD MARKETS

Stock markets were jittery at the start of Asia on Wednesday as trading was rocked by a rise in US Treasury yields as well as volatility in oil prices amid cooling price moves in the US and others country.

WALL STREET

The Nasdaq ended lower for a second straight session on Tuesday, while the S&P 500 rose as rising Treasury yields prompted investors to sell Tesla and other Big Tech names and buy stocks at lower valuations. .

GOLD

Gold prices edged higher on Wednesday, although US dollar strength and bets that the Federal Reserve could raise interest rates sooner kept the metal below $1,800.

EMERGING MARKETS

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Reporting by Emma Rumney

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