The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday.
- Moody’s decides on South Africa’s sovereign rating
South African stocks pulled away from record highs on Thursday as rising tensions on the Korean peninsula drove investors to limit risks and shift to safe havens.
Among movers on the exchange, Pioneer Food fell 6.81 percent to 132 rand, making it the biggest decliner, after reporting a 4 percent decline in 10 months sales.
Asian equity markets extended a global slide on Friday as tensions ramped up between the United States and North Korea, sending investors fleeing to less risky assets such the yen, the Swiss franc and U.S. Treasuries.
The S&P 500 index had its biggest one-day drop in almost three months on Thursday as investors fled riskier assets, with technology stocks leading the charge, in response to an increasingly aggressive exchange of threats between the United States and North Korea.
Gold prices held steady after touching their highest in over two months on Friday and were on track for a weekly gain, buoyed as rising tensions between the United States and North Korea triggered safe-haven buying.
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Some of the main stories out in the South African press:
- White knight rides to Sovereign’s rescue
- Kubayi investigates 80 million rand nuclear contract irregularity
- Transnet gets National Railways of Zimbabwe $400 million tender
- JSE-listed companies facing employment equity crackdown (Reporting by Tanisha Heiberg)