January 17, 2019 / 5:30 AM / a month ago

South African Markets - Factors to watch on Jan. 17

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

ECONOMIC EVENTS

- The South African Reserve Bank holds media briefing to announce its interest rates decision at 1300 GMT.

COMPANIES

- Mr Price Group expects Q4 trading environment to remain challenging.

- Woolworths Holdings sees 2018 HEPS 196 to 206.3 cents.

SOUTH AFRICAN MARKETS

South Africa’s rand and local stocks strengthened on Wednesday as retail sales rose more than expected, helping ease concerns over dismal mining data a day earlier.

GLOBAL MARKETS

Asian stocks nudged higher on Thursday after see-sawing through a subdued session on concerns over China’s economic outlook, while an anti-climactic end to the latest chapter in the Brexit saga offered sterling a moment’s peace.

WALL STREET

Wall Street’s major indexes hit one-month highs on Wednesday as strong earnings from Bank of America Corp and Goldman Sachs Group Inc boosted investor sentiment.

GOLD

Palladium rose to a record high on Thursday on lower supply and increasing demand for the metal used in auto catalysts, while a firmer dollar offset expectations of a pause in the U.S. Federal Reserve’s rate-hiking cycle, keeping gold steady.

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

- Bosasa ‘paid millions in bribes each month’

- Reserve Bank will remain independent - Ramaphosa

BUSINESS REPORT

- South Africa in scramble to lure new investments (Compiled by Olivia Kumwenda-Mtambo)

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