KAP:  820   +6 (+0.74%)  14/12/2018 00:00

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 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.


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


- Chairman of major investor in VBS Bank quits over curatorship debacle.


- Energy regulator Nersa proposes 6.9 percent increase for municipalities.

- Massive civil suit against Tiger Brands in the makings over listeriosis deaths.

(Compiled by Ed Stoddard)

2018-03-13 09:15:34

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