Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on Nov. 24

JOHANNESBURG, Nov 24 – The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Wednesday.


Crookes Brothers, Acsion and Lewis Group will or have published their half-year results. Tsogo Sun will publish its second quarter earnings. Arrowhead Properties reported its full-year performance.


The South African rand slipped further on Tuesday, trading near a one-year low, as the dollar held firm on bets for U.S. interest rate increases after Federal Reserve Chair Jerome Powell was nominated for a second term.


Share markets were jittery in early Asia on Wednesday as trading was buffeted by a step-up in U.S. Treasury yields as well as volatile oil prices in the face of price-cooling moves by the United States and other nations.


The Nasdaq ended lower for a second straight session on Tuesday, while the S&P 500 rose, as rising Treasury yields prompted investors to sell Tesla and other Big Tech names and buy stocks with lower valuations.


Gold prices edged higher on Wednesday, though strength in the U.S. dollar and bets that the Federal Reserve could raise interest rates sooner kept the metal below the key $1,800 mark.


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– – – – (Reporting by Emma Rumney)

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