Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on Nov. 24

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


South Africa’s Omnia Holdings published half-year results, while Reunert and Transaction Capital were set to publish full-year results. Momentum Metropolitan will publish a first quarter trading statement.


South Africa’s rand gained on Monday, lifted by global optimism over coronavirus vaccines and shrugging off ratings downgrades that are likely to push up government borrowing costs.


Asian shares climbed on Tuesday as news U.S. President-elect Joe Biden was given the go-ahead to begin his White House transition added to an already brighter mood from progress made on COVID-19 vaccine and the prospects for a speedy global economic revival.


U.S. stocks closed higher in a choppy session on Monday as hopes for a COVID-19 vaccine lifted economically sensitive sectors such as energy and industrials, but a pullback in megacap shares curbed gains on the S&P 500 and Nasdaq.


Gold slipped on Tuesday as progress on a COVID-19 vaccine and a federal agency’s approval of U.S. President-elect Joe Biden’s transition to the White House bolstered risk appetite, denting the bullion’s safe-haven appeal.


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