The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday.
South Africa’s net foreign reserves rose to $43.589 billion in January from $43.09 billion in December, the Reserve Bank said on Thursday.
- South Africa’s premier mining conference in Cape Town continues.
- Northam Platinum flagged a record 1 billion rand first-half operating profit.
- Woolworths said the head its struggling Australian unit David Jones has resigned for personal reasons.
- ArcelorMittal returned to 968 million rand annual profit on Thursday from a loss of 2.5 billion rand a year earlier. [ nFWN20115N
South Africa’s rand fell on Wednesday, in line with broad weakness in emerging market currencies, as the dollar settled near a two-week high after U.S. President Donald Trump’s State of the Union speech failed to surprise currency traders.
Asian share markets edged up to four-month highs on Thursday with Australian equities the star performer while the New Zealand dollar sank after disappointing jobs data prompted investors to narrow the odds of a future rate cut.
U.S. stocks edged lower on Wednesday as videogame makers gave disappointing revenue forecasts and investors awaited developments on U.S.-China trade relations.
Gold fell to a more than one-week low on Thursday, pressured by a stronger dollar, but worries over slowing global economic growth and the spectre of another U.S. government shutdown kept the safe-haven metal above the key $1,300 level.
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Some of the main stories out in the South African press:
- Agrizzi arrest ‘could scare off witnesses’
- Transnet seeks joint legal recourse for locomotive deal
- ‘New dawn’ gets thumps up from mining investors