Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on Nov. 8

JOHANNESBURG, Nov 7 – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday.


South Africa’s rand resumed its advance on Thursday, brushing off a batch of depressing economic data amid renewed expectations that China and the United States will reach a trade deal.


Asian stocks retreated from six-month highs on Friday on uncertainty over whether and when the United States and China will seal a deal marking a truce in their trade war that has slowed economic growth and roiled markets.


The Dow and S&P 500 notched record closing highs on Thursday as the latest signs of progress in U.S.-China trade relations relieved investors, but a report raising fresh worries about the outlook for a deal limited the day’s gains.


Gold prices were tepid on Friday, after dropping up to 2% in the previous session, as hopes of headway in the Sino-U.S. trade deal boosted risk-on sentiment, denting the bullion’s appeal.


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


– Branson says he is open to buying stake in SAA

– State says no job cuts to curb coal costs


– Plan aims to restructure poultry industry

– Sasol is pouring on power for its upstream gas and oil activities

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