Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on Feb 26

JOHANNESBURG, Feb 26 (Reuters) – The following company announcements, scheduled economic indicators, equity and currency market moves may affect South African markets on Friday.

ECONOMIC EVENTS

Money supply data

Trade data

Budget data

Inflation-linked bond auction

T bill auction

COMPANIES

Steinhoff results

SOUTH AFRICAN MARKETS

South Africa’s rand fell on Thursday, giving up the previous session’s gains when Finance Minister Tito Mboweni’s budget speech reassured some investors the country could avoid a full-scale fiscal crisis.

GLOBAL MARKETS

Asian stocks skidded to one-month lows on Friday as a rout in global bond markets sent yields flying and spooked investors amid fears the heavy losses suffered could trigger distressed selling in other assets.

WALL STREET

Wall Street’s main indexes tumbled on Thursday, with the Nasdaq index posting its largest daily percentage fall in four months, as technology-related stocks remained under pressure following a rise in U.S. bond yields.

GOLD

Gold inched higher after hitting a one-week low on Friday, but headed for a second straight weekly and monthly decline as a brighter economic outlook and inflation fears propped up U.S. Treasury yields.

EMERGING MARKETS

For the top emerging markets news, double click on

– – – –

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

BUSINESS DAY

– Anglo applauds Mboweni’s exchange control reforms

– COSATU fires political shot across ANC bow

(Compiled by Alexander Winning)


© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.