KAP: 820 +6 (+0.74%)
South African Markets - Factors to watch on March 13
The following company announcements, scheduled economic
indicators, debt and currency market moves and political events
may affect South African markets on Tuesday.
- A South African court has blocked state power utility
Eskom from signing $4.7 billion of renewable energy deals, court
documents showed on Tuesday, throwing the fate of the
long-delayed projects into doubt.
- Statistics South Africa publishes January manufacturing
figures. 1100 GMT
- Steinhoff will sell part of its $700
million stake in KAP industrial, it said on Tuesday,
part efforts by South African retailer in the throes of an
accounting scandal to plug a liquidity gap.
SOUTH AFRICAN MARKETS
South Africa's rand edged firmer on Tuesday, continuing to
eke out gains in subdued trade as optimism over the domestic
economy and short-buying ahead of inflation numbers in the
United States spurred demand..
Asian stocks edged up on Tuesday with technology shares
buoyed by gains in their Wall Street peers, but gains were
limited ahead of U.S. inflation data later in the day which
could offer clues on the pace of interest rate rises this year.
The S&P 500 and the Dow Jones Industrial Average slumped on
Monday as the U.S. tariffs signed into law last week by
President Donald Trump weighed on industrials, though gains in
tech stocks boosted the Nasdaq.
Gold prices crept lower on Tuesday on a firmer dollar as
investors waited for U.S. consumer price data due later in the
day to gauge the outlook for inflation and the Federal Reserve's
rate hike stance.
For the top emerging markets news, double click on
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Some of the main stories out in the South African press:
- Chairman of major investor in VBS Bank quits over
- Energy regulator Nersa proposes 6.9 percent increase for
- Massive civil suit against Tiger Brands in the makings
over listeriosis deaths.
(Compiled by Ed Stoddard)
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