NASPERSN:  344,843   -3657 (-1.05%)  16/06/2019 00:00

South African Markets - Factors to watch on March 8

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

ECONOMIC EVENTS

- South Africa auctions inflation-linked bonds and treasury bills.

COMPANIES

- MMI Holdings reports half-year diluted normalised HEPS of 105.3 cents.

SOUTH AFRICAN MARKETS

South Africa's rand fell on Thursday, tracking the euro lower after the European Central Bank pushed back its forecast for an interest rate hike and offered banks more cheap loans, while at home state power utility Eskom got smaller tariff hikes than sought.

Stocks weakened as market heavyweight Naspers came under pressure despite a jump in MTN's shares, which led gainers across the bourse, after reporting a surge in annual profit.

GLOBAL MARKETS

Asian stocks shuddered lower on Friday after shockingly weak export data from China heightened market fears about a global economic slowdown, a day after European policymakers slashed growth forecasts for the bloc.

WALL STREET

Wall Street's main indexes fell for a fourth consecutive session on Thursday, after Europe's central bank said it would defer interest rate hikes and offered banks a new round of cheap loans, raising fresh concerns about global economic growth.

GOLD

Gold was range-bound on Friday as investors awaited the U.S. jobs report for further cues on the economy, after the European Central Bank's (ECB) dovish policy stance spurred the dollar against the euro, while the metal was on track for a second straight weekly decline.

EMERGING MARKETS

For the top emerging markets news, double click on

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

BUSINESS DAY

- Hike leaves Eskom with 102 bln rand hole

BUSINESS REPORT

- MTN shares jump 18 pct on asset sales transactions (Compiled by Olivia Kumwenda-Mtambo)

2019-03-08 07:18:53

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