The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday.
PPC on Friday reported 11 percent increase in half-year headline earnings per share (EPS) on the back of strong growth in the rest of Africa, which offset weak local performance.
LIFE HEALTHCARE reported on Friday a 40.6 percent jump in full-year earnings, helped by the inclusion of Britain’s Alliance Medical’s results in the period.
South Africa’s rand rallied more than 1 percent on Thursday after the central bank raised benchmark lending rates for the first time in nearly three years in a close decision that underlined the bank’s hawkish stance.
Asian shares slipped on Friday as trade tensions continued to hurt sentiment, while weak corporate earnings in Europe added to worries about global growth and outweighed hopes for progress in Brexit negotiations.
The S&P 500 ended higher on Wednesday after a brutal two-day selloff, led by a rebound in energy and technology shares, but the market faltered toward the session’s end as Apple shares surrendered gains ahead of the Thanksgiving holiday.
Gold prices inched up on Friday, set to rise for the second straight week, on safe-haven demand for the metal ahead of the G20 summit next week where the leaders of the United States and China are set to discuss their trade dispute.
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Some of the main stories out in the South African press:
- Bank raises interest rates on inflation risks
- Amcu to expand strike
- Rand celebrates SARB interest rate hike