December 6, 2018 / 8:41 AM / 11 days ago

REFILE-South African Markets - Factors to watch on Dec.6

(Changes date in headline to Dec 6, not 5) The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday

ECONOMIC EVENTS

South Africa’s central bank releases Q3 current account data at 0900 GMT

COMPANIES

Steinhoff shares tumble after accounts, PwC probe delayed.

Group Five shares plunge on $60 mln claim for Ghana power project.

SOUTH AFRICAN MARKETS

South Africa’s rand weakened against the dollar in early trade on Thursday as fears of a fresh flare-up in tensions between the United States and China, and concerns about global growth weighed on investor appetite for riskier assets.

GLOBAL MARKETS

U.S. stock futures and Asian shares slumped on Thursday after Canadian authorities arrested a top executive of Chinese tech giant Huawei for extradition to the United States, feeding fears of a fresh flare-up in tensions between the two superpowers.

WALL STREET

U.S. stock index futures fell late on Wednesday, following the previous session’s dramatic sell-off and lingering worries over trade and economic growth.

GOLD

Gold prices edged lower on Thursday in range-bound trade as investors booked profits and the dollar strengthened, while palladium fell from a record high hit in the previous session.

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

- State pension fund may expand foreign portfolio

- Arms manufacturer Denel ‘is solvent and not for sale’

BUSINESS REPORT

- SA, ‘moves to ease controls’ on fuel price

- Treasury backs Eskom ‘emergency loan’ (Compiled by Patricia Aruo)

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