March 6, 2020 / 6:01 AM / 23 days ago

South African Markets - Factors to watch on March 6

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

ECONOMIC EVENTS

- Central bank publishes February foreign reserves data . 0600 GMT

COMPANIES

- Full Year 2019 Hulamin Ltd Earnings Release.

- Half Year 2020 Aspen Pharmacare Holdings Ltd Earnings.

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SOUTH AFRICAN MARKETS

South Africa’s rand weakened against the dollar on Thursday after the government confirmed the country’s first case of coronavirus.

On the stock market, the Top-40 .JTOPI index was up 0.12% to 47,618 while the broader all-share .JALSH was largely flat at 52,936.

GLOBAL MARKETS

Asian shares and U.S. stock futures tumbled on Friday as disruptions to business from the coronavirus worsened, stoking fears of a prolonged global economic slowdown.

WALL STREET

U.S. stocks tumbled on Thursday, with shares of banks and travel companies taking a beating, as a new wave of fear about the spread of the coronavirus and its economic impact gripped investors just one day after election results powered a rally.

GOLD

Gold prices held steady on Friday but were on track to post their biggest weekly gain since February 2016 over fears that the global coronavirus outbreak could deal a hard blow to the world economy.

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

- Pepsico to agree empowerment deal with economy minister

- South African Post Office records 1 billion rand loss.

BUSINESS REPORT

- Stadio aiming to net 10,000 student in university expansion.

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