South African Markets - Factors to watch on Dec 19
JOHANNESBURG Dec 19 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday.
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- There are no scheduled economic events.
- Shareholders of South African drugmaker Adcock Ingram agreed on Wednesday to postpone a vote on a sweetened $1.2 billion takeover offer from Chile's CFR Pharmaceuticals to next month.
SOUTH AFRICAN MARKETS
- South African stocks edged higher in sluggish trade on Wednesday, as global investors awaited the outcome of a U.S. Federal Reserve policy meeting that could see the world's top economy start to scale back its massive stimulus programme.
- The rand held steady against the dollar in afternoon trade on Wednesday, with investors wary of taking big positions hours before the U.S. Federal Reserve's monetary policy briefing.
Asian share markets rose on Thursday after the Federal Reserve drew the sting from tapering its stimulus by recommitting to low interest rates, leaving Wall Street at record heights and the dollar galloping above 104.00 yen for the first time since 2008.
U.S. stocks staged an explosive rally on Wednesday, driving the Dow and the S&P 500 to all-time closing highs after the Federal Reserve announced it would start to unwind its historic stimulus.
Gold posted a small recovery on Thursday after overnight losses prompted by the Federal Reserve's decision to pare its stimulus, indicating investors may have already priced in the U.S. central bank's move.
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Some of the main stories out in the South African press:
- Numsa may start broad drive for recruites
- Business in drive to increase 'social pacts'
- Impact of tapering uncertain - Marcus
- Mackay 'leaves phenomenal legacy' at SABMiller
(Reporting by Tosin Sulaiman; Editing by Pascal Fletcher)
- Search planes find no sign of missing airliner at spot located by China |
- Missing jet may have strayed to west, Malaysia military says |
- Malaysia failing credibility test as flight confusion deepens
- White House tried to mediate dispute between Senate, CIA panel: source
- Vietnam search fruitless at site where China satellite detected suspected plane debris - witness