The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday.
– Moodyâ€™s Ratings to review South Africa’s Credit Rating.
– S&P to review South Africa’s Credit Rating.
– Half Year 2021 Deneb Investments Ltd Earnings Release.
– Full Year 2020 Tiger Brands Ltd Earnings Release
– Full Year 2020 Spur Corporation Ltd Earnings Release.
– Sasol Ltd Annual Shareholders Meeting.
– Trellidor Holdings Ltd Annual Shareholders Meeting.
SOUTH AFRICAN MARKETS
South Africa’s rand weakened on Thursday as the central bank’s decision to hold rates gave scant support and as traders awaited a sovereign rating review on Friday.
On the Johannesburg Stock Exchange (JSE), stocks across sectors fell, as the optimism stemming from progress with new coronavirus vaccines wavered.
World financial markets stalled on Friday as news U.S. Treasury was ending emergency loans programmes dealt a blow to economic recovery hopes just as California announced curfews to try and fight surging coronavirus infections.
U.S. stock market futures dropped late on Thursday after Treasury Secretary Steven Mnuchin pulled the plug on some of the Federal Reserve’ pandemic emergency lending programs.
Gold prices fell on Friday after U.S. Treasury Secretary Steven Mnuchin called for an end to some of the Federal Reserve’s pandemic lending, sparking uncertainty about stimulus programmes that have played a key role in reassuring financial markets.
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Some of the main stories out in the South African press:
– Economists see rates at record lows for longer amid Reserve Bank caution.
– Stable interest rates may lead to housing market boom.