South African Markets - Factors to watch on Dec 17
The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.
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- South Africa sells 2.35 billion rand between 2023 , 2026 and 2031 bonds at 0900 GMT.
- South Africa's state pension fund on Sunday rejected a sweetened offer for drugmaker Adcock Ingram, likely derailing a $1.2 billion bid by Chile's CFR Pharmaceuticals to enter fast-growing Africa.
SOUTH AFRICAN MARKETS
- South African financial markets were closed on Monday for a national holiday.
- South African stocks edged down on Friday, falling for the fourth straight trading day as concern intensified the U.S. Federal Reserve could start scaling back its stimulus as early as next week.
- South Africa's rand gained nearly 1 percent against the dollar on Friday, tracking a global rally in emerging market currencies and buoyed by some fairly positive domestic data this week.
Asian shares pushed higher on Tuesday on the back of rising U.S. manufacturing output and a jump in euro zone business activity, ahead of a key U.S. Federal Reserve policy decision later this week.
U.S. stocks rose on Monday after closing Friday their worst week since August as upbeat economic data from the United States and Europe boosted optimism ahead of a key Federal Reserve decision later in the week.
Gold inched up for a third session on Tuesday supported by a short-covering rally, even as investors remained on edge ahead of a policy decision from the Federal Reserve on its bullion-friendly stimulus measures.
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Some of the main stories out in the South African press:
- ANC gets it right after tough week for Zuma
- PIC throws spanner in works of CFR's bid for Adcock
- Hostilities over CFR's offer for Adcock Ingram intensify (Compiled by Olivia Kumwenda-Mtambo)
- Ten countries scour sea for Malaysia jet lost in 'unprecedented mystery' |
- Shots fired in air during raid at Crimea naval base
- Missing Malaysian jet may have disintegrated in mid-air: source |
- Mexico kills drug kingpin reported dead years ago: official
- Pistorius vomits in court at Steenkamp autopsy details