South African Markets - Factors to watch on March 12

South African Markets - Factors to watch on March 12
The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday.


- South African President Cyril Ramaphosa warned on Sunday that land invasions would not be tolerated as the ruling African National Congress (ANC) moves to change the constitution to expropriate property without compensation.


- Data on foreign trading in bonds and equities


- A human rights lawyer plans to launch a class action lawsuit against South African food producer Tiger Brands on behalf of the families of people who died and those affected by the worst listeria outbreak in history.

- South African gold producers will likely reach a settlement within six weeks in a lawsuit over a fatal lung disease that companies have set aside 5 billion rand ($420 million) in provisions for, a lawyer and industry group said on Sunday.


South Africa's rand firmed on Friday after U.S. jobs data pointed to slower wage growth, which could temper expectations that the Federal Reserve will raise its forecast for how many times it hikes interest rates this year. Stocks also extended gains on the U.S. jobs data, with the benchmark Top-40 index adding 0.56 percent to 52,348 and the wider All-share index adding 0.41 percent to 59,169.


A relief rally swept across Asian share markets on Monday after the latest U.S. jobs report managed to impress with its strength while also easing fears of inflation and faster rate hikes, a neat feat that whetted risk appetites globally.


To celebrate the bull market's ninth birthday on Friday, the three major U.S. stock indexes climbed almost 2 percent and the Nasdaq closed at a record high, as February's jobs report assuaged fears of inflation and aggressive interest rate hikes.


Gold prices were steady on Monday as the U.S. dollar inched lower, with the latest U.S. jobs report easing fears of inflation and faster U.S. rate hikes.


For the top emerging markets news, double click on

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Some of the main stories out in the South African press:


- VBS placed under curatorship. (Compiled by Ed Stoddard)

2018-03-12 06:49:36

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