--- Kagiso releases PMI.
--- Absa Investments hosts trends and market briefing 2012.
--- Standard Bank releases residential property prices.
--- Consulting Engineers South Africa (CESA) briefing on its outlook for the year.
--- BUSA hosts media briefing on the upcoming budget.
--- ASISA releases latest unit trust results.
--- Treasury releases provisional financing figures.
--- Vunani Property holds AGM.
--- Mvelaphanda Group releases interim results.
WHAT TO WATCH FOR:
Local attention focuses on the PMI late this morning. Standard Bank research strategist Thabi Leoka says that after ending the year on a sour note, the Kagiso PMI may just inch up above 50 points, indicating expansion.
"The global environment is still on tenterhooks, and sluggish growth suggests that a revival is far off."
Dow Hones Newswires reports that Most Asian stock markets we modestly higher Wednesday as encouraging China manufacturing data tempered concerns over a batch of downbeat U.S. economic reports, while earnings disappointments in Japan capped stocks there.
Investors were wary as they digested several pieces of competing global data and remained uneasy about Greece's protracted debt restructuring talks. Oil prices rose on the China data, though the U.S. dollar continued to attract safe-haven flows after U.S. consumer confidence, housing and manufacturing data revealed weakness in the economy.
Early trade was dominated by interest in China's official manufacturing Purchasing Managers Index for January, which rose to 50.5 compared with 50.3 in December, and was higher than the median forecast of 49.5 in a Dow Jones Newswires poll of seven economists. The unexpected rise in the index is likely to assuage market concerns about a slowdown in Asia's largest economy, although the result also meant that any near-term policy easing steps from Beijing may be delayed.
"Obviously this lessens the risk that China's economy will have a hard landing, but the flip side is that the long-awaited (reserve requirement ratio) cut will likely be pushed back," said Daniel So, strategist at SHK Financial in Hong Kong.
Hong Kong's Hang Seng Index turned higher after opening down in choppy trade, and was up 0.1%, while China's Shanghai Composite slipped 0.1%. Japan's Nikkei Stock Average tacked on 0.3%, Australia's S&P/ASX 200 lost 0.7%, South Korea's Kospi Composite was up 0.3%, and New Zealand's NZX-50 was up 0.2%.
Dow Jones Industrial Average futures were down one point in screen trade.
In foreign exchange markets, the U.S. dollar continued to attract safe-haven demand although the official China PMI data saw some flows moving toward riskier currencies, such as the Australian dollar which rose modestly. The euro remained on the defensive amid sluggish equities, weak U.S. data and worries Greece may stumble in its debt write-off negotiations with private sector creditors.
The single currency was fetching $1.3065 against the dollar, from $1.3085 late Tuesday in New York. Spot gold was at $1,739.10 per troy ounce, up $2.40 from its New York settlement on Tuesday.
In Johannesburg, the rand was bid at 7.7931 to the greenback from 7.7900 before.
ON THE HORIZON:
Feb 2: Ford hosts breakfast on NAAMSA quarterly sales results.
Feb 2: Stats SA releases December electricity generated stats.
Feb 2: KPMG releases 2011 BEE survey results.
Feb 3: Weekly Treasury bill auction.
Feb 3: Investec releases Interim Management Statement.
Feb 3: The Don Group holds AGM.
Feb 3: ResGen releases interim results.
Feb 4: No events scheduled.
Feb 5: No events scheduled.
Feb 6: Investing in African mining indaba until Feb 9.
Feb 6: The Digital Marketing Event for Africa (until Feb 9.)
Feb 6: York Timbers holds AGM.
Feb 6: Randgold Resources releases Q4 and annual results.
Feb 6: Harmony releases Q2 results.
Feb 6: Jasco releases interim results.
Feb 7: Weekly government bond auction.
Feb 7: African Bank holds AGM.
Feb 7: ArcelorMittal releases Q4 results.
Feb 7: SARB releases January gold and forex reserves.
Feb 7: Xstrata releases annual results.
Feb 8: BHP Billiton releases interims results.
Feb 8: Sappi releases Q1 results.
Feb 8: Stats SA releases December manufacturing production stats.
Feb 8: Opening of new Sasol Research & Technology Building in Sasolburg.
Feb 9: Resilient Property Income Funds releases annual results.
Feb 9: ICMM hosts session on sustainable development at Mining Indaba.
Feb 9: Rio Tinto releases annual results.
Feb 9: Kumba releases annual results.
Feb 9: President Jacob Zuma delivers State of the Nation address to Parliament.
Feb 9: Aquarius Platinum releases interim results.
Feb 9: Stats SA releases December mining production stats.
FURTHER AHEAD
Feb 10: Weekly Treasury bill auction.
Feb 10: Sea Kay holds AGM.
Feb 10: ABSA releases annual results.
Feb 11: No events scheduled.
Feb 12: No events scheduled.
Feb 13: Competition Tribunal hears closing arguments in Telkom hearing.
Feb 13: Anglo Platinum releases annual results.
Feb 13: Mercedes Benz SA releases outlook for 2012.
Feb 13: Group Five releases interim results.
Feb 13: Delta releases annual results.
Feb 14: Weekly government bond auction.
Feb 14: Tiger Brands holds AGM.
Feb 14: Adaptit Holdings releases interim results.
Feb 14: DRDGOLD releases Q2 and interim results.
Feb 15: AngloGold Ashanti releases Q4 and year-end results.
Feb 15: Village Main Reef releases Q2 and interim results - approx. date.
Feb 15: Reunert holds AGM.
Feb 15: Distell releases interim results.
Feb 15: Stats SA releases December retail trade sales.
Feb 16: Fortress releases annual results.
Feb 16: Impala Platinum releases interim results.
Feb 16: Stats SA releases December civil cases for debt.
Feb 16: Stats SA releases December wholesale trade sales.
Feb 16: Stats SA releases December building stats.
Feb 16: Woolworths releases interim results.
Feb 17: Gold Fields releases annual results.
Feb 17: Anglo American releases annual results.
Feb 17: Weekly Treasury bill auction.
Feb 17: Pioneer Food Group holds AGM.
Feb 18: No events scheduled.
Feb 19: No events scheduled.
Feb 21: Weekly government bond auction.
Feb 21: Africa Energy Indaba conference until Feb 23.
Feb 21: Super Group releases interim results.
Feb 21: AECI releases annual results.
Feb 21: Shoprite releases interim results.
Feb 21: Islamic Finance Africa conference until Feb 24.
Feb 22: Stats SA releases January CPI.
Feb 22: Finance Minister Pravin Gordhan delivers annual budget.
Feb 22: Massmart Holdings releases interim results.
Feb 22: Imperial Holdings releases interim results.
Feb 22: Growthpoint releases interim results.
Feb 23: Stats SA releases January PPI.
Feb 23: Stats SA releases Q4 GDP data.
Feb 23: Cullinan holds AGM.
Feb 23: Mondi releases annual results.
Feb 23: Discovery releases interim results.
Feb 23: Truworths releases interim results.
Feb 23: Capital Shopping Centers releases annual results.
Feb 23: British American Tobacco releases interim results.
Feb 24: Weekly Treasury bill auction.
Feb 25: No events scheduled.
Feb 26: No events scheduled.
Feb 27: Kumba releases annual results.
Feb 27: ARM releases interim results.
Feb 27: Stats SA releases December liquidations and insolvencies.
Feb 27: Bidvest releases interim results.
Feb 28: Weekly government bond auction.
Feb 28: Crop Estimates Committee releases Winter: 7th production forecast and Summer: revised area and 1st production forecast.
Feb 28: Firstrand releases interim results.
Feb 28: Santam releases annual results.
Feb 28: Royal Bafokeng Platinum releases annual results.
Feb 28: Africa Roads conference until March 2.
Feb 29: Nedbank releases annual results.
Feb 29: SARB releases January M3 and PSCE.
Feb 29: Customs & Excise releases January trade data.
Feb 29: Treasury releases January statement of national revenue, expenditure and borrowing.
Feb 29: Top Fix Holdings holds AGM.
Feb 29: Palabora Mining releases annual results.
Feb 29: Grindrod releases annual results.
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