March 20, 2017 / 5:28 AM / 9 months ago

South African Markets - Factors to watch on March 20

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

SOUTH AFRICAN MARKETS

South Africa’s rand firmed to a near 19-month high on Friday over dovish comments by the U.S. Federal Reserve, which gave impetus to emerging market currencies against the retreating greenback.

Stocks fell, with Net1’s Johannesburg-listed shares taking a hit over a court ruling that affected its operations.

GLOBAL MARKETS

Asian stocks were mixed on Monday in thin trade, following Wall Street’s declines and the G20’s decision to drop a pledge to avoid trade protectionism, while the Federal Reserve’s less hawkish-than-expected comments continued to drag the dollar lower.

WALL STREET

U.S. stocks dipped on Friday as bank shares fell alongside Treasury yields while Adobe helped buoy the S&P tech sector and the Nasdaq Composite.

GOLD

Gold prices hit a two-week high on Monday as the dollar held near five-week lows reached in the previous session, finding support from the U.S. Federal Reserve’s conservative guidance on the path of rate hikes this year.

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

- Fears over Zuma’s role on Sassa panel

- Mogoeng’s office reviews security

BUSINESS REPORT

- Contractors hobble Medupi

- 6 bln rand French loan for grid upgrades (Compiled by Olivia Kumwenda-Mtambo)

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