Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on Oct. 16

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


The South African rand weakened on Thursday, as market participants digested an economic recovery plan focusing on infrastructure investment and job creation unveiled by President Cyril Ramaphosa.


Asian stocks gave up early gains and fell on Friday, as a resurgence of coronavirus infections in Europe and the United States hurt risk appetite.


The S&P 500 ended lower on Thursday after a rise in weekly jobless claims compounded worries about a stalling economic recovery and fading hopes for more fiscal aid before the election.


Gold slipped on Friday and looked set to post its first weekly drop in three, as the dollar held firm while additional U.S. fiscal stimulus appeared unlikely before the presidential election.


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


– Institutions ‘willing’ to help grow Eskom’s power grid

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