November 9, 2018 / 5:36 AM / 9 days ago

South African Markets - Factors to watch on Nov. 9

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

ECONOMIC EVENTS

- No major economic releases.

COMPANIES

- Q1 2019 NET 1 UEPS Technologies earnings release.

- Half Year 2019 Compagnie Financiere Richemont SA Earnings Call.

- Q3 2017 Gold Fields Corporate Operational Update. - City Lodge Hotels annual shareholders meeting

SOUTH AFRICAN MARKETS

South Africa’s rand weakened on Thursday as a dollar rally dimmed investor appetite for riskier assets with investors taking profits ahead of the U.S. Federal Reserve meeting later in the day.

Bourse heavyweight Naspers NPNJn.J and banks led stocks lower.

GLOBAL MARKETS

Asian stocks pulled back from a one-month high on Friday as the Federal Reserve appeared poised to deliver another interest rate hike next month, paring gains made earlier this week after U.S. midterm elections triggered a global equities rally.

WALL STREET

The S&P 500 and Nasdaq closed slightly lower on Thursday after a Federal Reserve statement, and energy stocks were the biggest drag on the S&P as U.S. crude oil prices fell.

GOLD

Gold prices fell to their lowest in a week on Friday, and were set for their biggest weekly fall since August, on a firmer dollar as the U.S. Federal Reserve indicated they will continue to raise interest rates, lowering demand for bullion.

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

- Stefanutti considering layoffs over weak construction conditions.

- Deloitte ignored signs of African Bank collapse

BUSINESS REPORT

- Standard Bank, AVI announce secondary listings on A2X.

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