(REUTERS) The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday.
SOUTH AFRICA – Producer inflation data for April due.
PRETORIA – Central bank’s monetary policy committee announces interest rate decision, briefing starts at 1300 GMT
PRETORIA – Statistics agency releases April producer inflation data at 0930 GMT.
Tiger Brands reports half-year results.
TFG reports full-year results.
SOUTH AFRICAN MARKETS
South Africa’s rand rallied to a 4-week high against the dollar on Wednesday and government bonds gained after annual consumer inflation fell more than expected as food price rises eased.
Asian shares scaled two-year highs on Thursday while the dollar and U.S. bond yields slipped after the U.S. Federal Reserve signalled a cautious approach to future rate hikes and the reduction of its $4.5 trillion of bond holdings.
U.S. stocks ended up slightly on Wednesday, with the S&P 500 hitting a record high close, after minutes of the Federal Reserve’s latest meeting showed policymakers view a rate hike coming soon.
Gold held steady on Thursday to keep most of its gains from the previous session, with the dollar slipping after minutes of the U.S. Federal Reserve’s last policy meeting downplayed the chance of more aggressive interest rate hikes.
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Some of the main stories out in the South African press:
– PSA, Fedusa alliance to change labour landscape
– SA mining stages a slight recovery
– CPI surprise drop to 5.3 percent
– Chamber of Mines is in the process of rebranding
GHANA – Producer inflation in April at 4.8% yy (prev 6.0%).
SOUTH AFRICA – Consumer inflation in April at 5.3% yy (prev 6.1%).