September 12, 2019 / 5:48 AM / 6 days ago

South African Markets - Factors to watch on Sept. 12

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

ECONOMIC EVENTS

Statistics South Africa to released July mining output data

COMPANIES

South Africa’s Aspen Pharmacare annual results presentation.

SOUTH AFRICAN MARKETS

South Africa’s rand weakened on Wednesday after data showing business confidence in the country has collapsed, undermining a push by President Cyril Ramaphosa to kick-start growth after a decade of stagnation.

On the bourse, the Johannesburg All-Share Index was up 1.64% to 56,243 points, while the benchmark top-40 index gained 1.77% to 50,359 points.

GLOBAL MARKETS

Asian stocks hit a six-week high on Thursday on hopes for a thaw in U.S.-China trade frictions and expectations that the European Central Bank would kick off another wave of monetary easing by global central banks.

WALL STREET

Wall Street moved higher on Wednesday, led by tariff-sensitive technology and industrial stocks after China extended an olive branch ahead of next month’s trade negotiations with the United States.

GOLD

Gold prices dipped on Thursday as hopes for a thaw in the U.S.-China trade tensions lifted risk appetite, while some investors booked profits ahead of a meeting by the European Central Bank.

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

- Business confidence hits lowest since 1980s

- Dividend on hold at debt-heavy Aspen

BUSINESS REPORT

- Napsers nosedives after Prosus listing

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