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South African Markets - Factors to watch on March 5

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.


- Statistics South Africa releases Q4 GDP data


- Royal Bafokeng Platinum reported a 54.2 percent fall in annual headline earnings due to cost related to scrapping f a feasibility into a concentrator plant.

- Nedbank, one of South Africa's top four lenders, said on Tuesday its headline earnings rose by over 14 percent in the 12 months to Dec. 31 to 13.5 billion rand ($950.27 million.

- Clover Industries reported a 5 percent rise in H1 profit.


South Africa's rand ended firmer on Monday, boosted by growing hopes of a trade deal between the United state and China, but trading was cautious ahead of crucial local and offshore data that could see the currency's slide resume.


Asian shares stepped back on Tuesday, weighed by U.S. growth concerns and as China cut its economic expansion target amid growing challenges from rising debt and a dispute over trade and technology with the United States.


Wall Street's major indexes fell on Monday, weighed down by a weak U.S. construction spending report and declines in healthcare shares, as an initial rally on optimism over a U.S.-China trade deal faded.


Gold steadied on Tuesday, but was hovering near a five-week low touched in the previous session, as rising U.S. Treasury yields boosted the dollar.


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


- Bumpy road ahead for South African Consumers

- State bleeds 3 billion rand due to late leases signed at high rentals


- ARC to up stake in Alex Forbes via Sanlam

(Compiled by Tiisetso Motsoeneng)

2019-03-05 07:34:57

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