South African Markets - Factors to watch on Dec. 7
The following company announcements, scheduled economic
indicators, debt and currency market moves and political events
may affect South African markets on Thursday.
- Central bank publishes fx reserves figures for November.
- October mining production data release by Statistics SA.
- No major announcements.
SOUTH AFRICAN MARKETS
South African stocks fell to their lowest in more than a
month on Wednesday after Steinhoff shares plummeted when the
company announced an investigation into accounting
irregularities and its chief executive officer resigned. The
Asian shares hovered near two-month lows on Thursday as
softer oil and copper prices and uncertainty over U.S. policy
kept many investors on the sidelines, even as some high-tech
bellwethers bounced back after a searing sell-off.
The S&P 500 fell a tiny bit on Wednesday, with Microsoft and
other technology stocks making modest gains but not quite
offsetting losses in energy shares after oil prices dropped more
than 2 percent.
Gold prices were mostly steady on Thursday amid a firm
dollar, trading within sight of a two-month low hit earlier this
Spot gold XAU= was nearly unchanged at $1,263.21 an ounce by
0406 GMT. It marked its lowest since Oct. 6 at $1,260.71 on
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Some of the main stories out in the South African press:
- Logistics utility Transnet's board to be subpoenaed by
parliament in corruption probe.
- Redefine expands into Poland.
- South Africa's poultry association worried about forced
labour at Brazil farms.
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