South African Markets - Factors to watch on Feb 20
The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday.
DIARY
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COMPANIES
- Sun International releases annual results
- Standard Bank - Japan's Mizuho Financial Group will sign an agreement to cooperate with South Africa's Standard Bank in corporate lending as early as this week, according to two people familiar with the matter.
- JD Group - says four-month headline EPS increased 14 pct.
- Hulamin - says full-year earnings fell 7 percent.
SOUTH AFRICAN MARKETS
South Africa's benchmark index rose 0.9 percent on Friday as recovery in the platinum price prompted a rebound in miners such as Lonmin, while Anglo American rose after posting a rise in full-year earnings.
The rand firmed against the dollar on Friday for the first day in four as it retreated from support levels, and bonds ended the week stronger in thin trade pending inflation data and the national budget announcement next week.
GLOBAL MARKETS
Markets rose across the board on Monday as policy easing by China and expectations that Greece will secure a second bailout buoyed investor appetite for riskier assets, sending U.S. crude up nearly 2 percent and copper nearly 3 percent higher.
WALL STREET
U.S. stocks rose modestly for a third straight day on Thursday after Greece reached a deal to secure a financial bailout, but investors were cautious after weeks of gains.
GOLD
U.S. stocks edged higher on Friday, but investors stayed cautious before a long holiday weekend when hopes are set for Greece's bailout plan to be approved.
EMERGING MARKETS
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Some of the main stories out in the South African press:
BUSINESS REPORT
- Rising oil price set to
BUSINESS DAY
- "Review" of Amplats sparks talks of Anglo American exit
- Kumba opposes ICT appeal bid over rights (Compiled by Tiisetso Motsoeneng)
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