Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on Jan. 13

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

SOUTH AFRICAN MARKETS

The South African rand recovered on Tuesday, bouncing off a two-month low hit in the last session, as a recent rally in the dollar cooled.

The benchmark FTSE/JSE all-share index dropped 0.35% to end the day at 63,535 points, while the bluechip FTSE/JSE top 40 companies index ended down 0.38% to 58,493 points.

GLOBAL MARKETS

Asian stocks rose on Wednesday, tracking modest Wall Street gains, as expectations that a vaccine will eventually win the battle against the coronavirus fuelled recovery hopes, while tight supply expectations pushed oil prices to a one-year high.

WALL STREET

The benchmark S&P 500 closed barely higher on Tuesday while shares in smaller companies soared to record highs as investors favoured more economically sensitive market segments as they bet on a recovery in 2021.

GOLD

Gold prices edged up on Wednesday as the dollar pulled back and the U.S. Treasury yields traded lower, while the outlook of a massive U.S. fiscal stimulus further boosted the metal’s appeal as an inflation hedge.

EMERGING MARKETS

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