March 10, 2020 / 5:39 AM / 23 days ago

South African Markets - Factors to watch on March 10

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

ECONOMIC EVENTS

- No major events.

COMPANIES

- Full Year 2019 Brimstone Investment Corporation Ltd Earnings Release.

- Half Year 2020 Growthpoint Properties Ltd Earnings Release.

- Half Year 2020 Texton Property Fund Ltd Earnings Release.

SOUTH AFRICAN MARKETS

South African stocks plunged to a more than four-year low on Monday, joining a global sell-off in riskier assets as oil prices collapsed more than 30%, hitting chemical and energy firm Sasol SOLJ.J the hardest.

GLOBAL MARKETS

Asian shares bounced and bond yields rose from historic lows on Tuesday as speculation of coordinated stimulus from global central banks and governments calmed panic selling.

WALL STREET

Wall Street suffered its biggest one-day loss since the 2008 financial crisis on Monday and recession worries loomed large as tumbling oil prices and ongoing coronavirus fears prompted investor panic on the anniversary of the U.S. stock market’s longest-ever bull run.

GOLD

Gold prices fell 1% on Tuesday, retreating from the last session’s jump above the key $1,700 level, as hopes for global stimulus measures to cushion the economic impact of the coronavirus outbreak lifted riskier assets and the dollar.

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 nuclear agency Necsa struggling to pay salaries.

- Coronavirus outbreak hits local fishing firm AVI.

BUSINESS REPORT

- Pepkor raises 1 billion rand in debt issue.

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