March 2, 2020 / 6:02 AM / in a month

South African Markets - Factors to watch on March 2

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

ECONOMIC EVENTS

Trade and Industry Department releases February new vehicle sales at 1200 GMT.

COMPANIES

- Bidvest Group half-year normalised HEPS Of 610.9 cents.

- RCL Foods half-year revenue up 7.1% to 14.2 Billion rand ($908.63 million).

- Sea Harvest full-year group revenue up 54% to 3.97 Billion rand.

SOUTH AFRICAN MARKETS

South African rand closed at its weakest level in 18 months on Friday, extending its slump throughout the day as stocks also crashed amid deepening worries about coronavirus that sent global financial markets into a tailspin.

GLOBAL MARKETS

Asian shares steadied from early losses on Monday as investors placed their hopes on a coordinated global monetary policy response to weather the damaging economic impact of the coronavirus epidemic.

WALL STREET

U.S. stock index futures tumbled as trading reopened on Sunday night with investors still unnerved by the coronavirus and taking little solace from weekend comments by U.S. officials that aimed to soothe panic about a pandemic.

GOLD

Gold rose more than 1% on Monday, recouping losses from a steep slide in the previous session, amid the fast-spreading coronavirus and hopes for a rate cut by the U.S. Fed.

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

- Mboweni’s fiscal targets in doubt as unions resist

- Coronavirus to dent global growth for 2020

BUSINESS REPORT

- Tongaat sells starch business for R5bn

- Blue Label in recovery mode after writing down Cell C investment ($1 = 15.6279 rand) (Compiled by Nqobile Dludla)

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