Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on Sept. 25

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

ECONOMIC EVENTS

– No major releases.

COMPANIES

– Full Year 2020 Rand Merchant Investment Holdings Ltd Earnings Release.

– Trans Hex Group Ltd Annual Shareholders Meeting.

SOUTH AFRICAN MARKETS

South Africa’s rand fell more than 1% on Wednesday as the dollar grinded higher, boosted by its renewed safe-haven appeal amid concerns about a second wave of coronavirus infections in Europe.

The Johannesburg Stock Exchange (JSE) reversed its six-day losing streak with the benchmark FTSE/JSE all share index .JALSH up 1.84% to end the day at 54,248 points. The FTSE/JSE top 40 companies index .JTOPI closed up 2.04% to 50,127 points.

GLOBAL MARKETS

Asian shares rose on Friday after robust U.S. housing data supported a late tech-driven rally on Wall Street, with investors picking up the pieces a day after a broad regional index posted its biggest daily loss in more than three months.

WALL STREET

Wall Street rallied in a rocky session on Thursday as beaten-down technology shares gained favor after data showing a surge in the sale of new homes revived faith in the economic recovery even as U.S. jobless claims rose unexpectedly.

GOLD

Gold inched higher on Friday on renewed hopes of more U.S. stimulus measures, though the bullion was on track for its biggest weekly decline in more than a month pressured by a stronger dollar.

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

– New Development Bank issues $2bn Covid-19 bond.

– Poultry industry invests R1bn in expansion.

BUSINESS REPORT

– International money laundering investigation points finger at Standard Bank.


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