May 15, 2020 / 7:04 AM / 22 days ago

South African Markets - Factors to watch on May 15

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

SOUTH AFRICAN MARKETS

South Africa’s rand weakened on Thursday as demand for emerging currencies continued to ebb due to growing concerns over the impact of the coronavirus on the global economy.

GLOBAL MARKETS

Asian stocks struggled to extend gains on Friday and were on course to end the week lower as deteriorating U.S.-China relations undercut optimism over the reopening of major economies.

WALL STREET

Wall Street surged on Thursday as investors weighed the prospect of economic recovery against bellicose remarks from President Donald Trump regarding U.S.-China trade and a whistleblower’s dire warnings about the U.S. response to the coronavirus pandemic.

GOLD

Gold rose on Friday to trade below a three-week high reached in the previous session, as cracks widened in Sino-U.S. relations and investors worried a recovery from coronavirus-induced economic slump would be slower than expected.

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

- More than 3.5-million apply for temporary Covid-19 relief grant in three days

- Ebrahim Patel makes a U-turn on e-commerce

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