April 20, 2017 / 5:24 AM / 3 months ago

South African Markets - Factors to watch on April 20

2 Min Read

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

Economic Events

S&P Global Ratings hosts webcast after it slashed South Africa's sovereign rating to junk.

Companies

No major company events scheduled.

South African Markets

South Africa's Sibanye Gold led the bourse lower on Wednesday as it prepared to raise cash to fund an acquisition in the U.S. as well as a weaker bullion price.

On the foreign exchange market, the rand ZAR=D3 was little changed 0.11 percent to 13.3100 per dollar by 1612 GMT.

Global Markets

Asian stocks erased early losses and edged higher on Thursday as signs of resilience emerged in some markets, while steadying commodity prices - especially for oil - prompted some bargain hunting among investors.

Wall Street

The S&P 500 and Dow closed lower and the Nasdaq advanced on Wednesday as investors digested the latest round of earnings, while a drop in oil prices weighed on the energy sector.

Gold

Gold prices held firm on Thursday after falling as much as 1 percent the previous day, with tensions surrounding North Korea and the upcoming French presidential election driving safe-haven demand amid a firmer dollar.

Emerging Markets

For the top emerging markets news, double click on

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

Business Day

- Question mark hovers over bond issues in SA

- Allan Gray confirms social grants worries

Business Report

- PnP to spend R1.8bn on new stores

- Eskom should toe the line, Gigaba says

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