The following equity and currency market moves may affect South African markets on Monday.
SOUTH AFRICAN MARKETS
South Africa’s rand posted its third consecutive week of gains on Friday, scaling back to a level seen two months ago as stronger local data and a risk-on mood globally supported the currency against the dollar.
Stocks listed on the Johannesburg Stock Exchange ended Friday marginally stronger but with a heavy loss seen during the week on the back of losses suffered by index heavyweights Naspers and mining companies.
Asian shares made a sluggish start on Monday to a week packed with major U.S. and Chinese economic data and the launch of Apple’s latest iPhones, while the Nikkei was tantalisingly near heights last visited in 1990.
Wall Street ended sharply lower on Friday as investors weighed signs of higher inflation, while Apple Inc tumbled following an unfavourable court ruling related to its app store.
Gold prices were stuck in a narrow range on Monday, with cautious investors awaiting readings on U.S. consumer prices that could be crucial to Federal Reserve’s decision on when to exit its super-supportive policy.
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(Compiled by Olivia Kumwenda-Mtambo)