February 1, 2019 / 5:51 AM / 6 months ago

South African Markets - Factors to watch on Feb. 1

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

ECONOMIC EVENTS

- South Africa new car sales. 1200 GMT

COMPANIES

- Half-year 2019 OneLogix Group earnings release.

- Clicks Group annual shareholders meeting.

- Netcare annual shareholders meeting.

SOUTH AFRICAN MARKETS

South Africa’s rand gained to its highest in nearly six months on Thursday as the United States central bank kept lending rates unchanged and hinted it would hold off on cutting interest rates, fuelling global demand for risk assets.

GLOBAL MARKETS

Asian shares crept back from four-month highs on Friday as a dismal survey on Chinese factory activity dulled optimism about the prospects for a Sino-U.S. deal on tariffs.

WALL STREET

Wall Street ascended on Thursday, with the S&P 500 .SPX wrapping up its biggest monthly increase since 2015 after strong earnings from Facebook Inc FB.O added to optimism after the Federal Reserve’s dovish remarks.

GOLD

Gold fell on Friday as investors sought riskier assets amid optimism the United States and China may reach a trade deal but a pause in U.S. interest rate hikes put bullion on track for a second weekly increase.

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

- Eskom has 12 billion rand ($903 million) for cost-plus mines.

BUSINESS REPORT

- Woes in construction set to deepen. ($1 = 13.2930 rand)

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