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South African Markets - Factors to watch on Dec. 6
December 6, 2017 / 5:23 AM / 7 days ago

South African Markets - Factors to watch on Dec. 6

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

ECONOMIC EVENTS

- South African Chamber of Commerce and Industry’s (SACCI) monthly business confidence index for November. 0930 GMT

COMPANIES

- Steinhoff Q4 results.

SOUTH AFRICAN MARKETS

South African listed shares fell on Tuesday after a U.S law firm launched an investigation into media and e-commerce giant Naspers, while the rand and government bonds were little changed ahead of next week’s ruling party leadership vote.

The benchmark Top-40 index .JTOPI fell 1.25 percent to 52,413 points, while the All-Share index .JALSH was 1.06 percent lower at 58,977 points.

GLOBAL MARKETS

Asian stocks slipped on Wednesday, dragged by losses on Wall Street as the technology sector stuttered yet again after a brief rebound, while the dollar sagged on lower long-term U.S. yields.

WALL STREET

Wall Street fell on Tuesday as a technology rebound lost steam and Walt Disney Co DIS.N shares dipped, while investors assessed how a Republican U.S. tax overhaul would impact corporate earnings.

GOLD

Gold was mostly unchanged in Asian trade on Wednesday after sliding to a two-month low in the previous session, despite a slightly weaker dollar.

Spot gold XAU= was steady at $1,266.28 an ounce by 0352 GMT. The session before, it hit its lowest since Oct. 6 at $1260.71.

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

- U.S. lawyers to investigate Naspers pay-TV arm MultiChoice over payments to national broadcaster.

- President Jacob Zuma linked to executive axings at power utility Eskom.

BUSINESS REPORT

- Focus on nuclear build plan at Energy conference.

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