The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday.
- Absa Purchasing Manager’s Index. 0900 GMT
- New Vehicle sales for February. 1200 GMT
- Full Year 2018 SA Corporate Real Estate Fund Managers Earnings Release.
- Full Year 2018 Delta Emd Ltd Earnings Release.
- Half Year 2019 Hyprop Investments Earnings Release.
- Q2 2019 Distell Group Earnings Release.
- Q2 2019 African Rainbow Minerals Earnings Release.
The South African rand fell on Thursday as fading hopes for a U.S-China trade deal and an unsatisfactory end to the U.S.-North Korea summit subdued demand for emerging market currencies.
Stocks ended slightly lower, with Massmart MSMJ.J among the biggest decliners after the retailer reported annual earnings down by a third and gave downbeat outlook.
Asian shares rose on Friday, driven by a rally in Chinese markets after index publisher MSCI announced it would boost the proportion of mainland shares in its global benchmarks, while strong U.S. economic data helped the dollar higher.
Wall Street’s main indexes fell slightly on Thursday as support from better-than-feared U.S. GDP data was countered by concerns about earnings and U.S.-China trade relations.
Gold prices hit a two-week low on Friday as the dollar recouped losses on upbeat U.S. economic data, while mounting concerns over a slowdown in global growth offered support to the safe-haven metal.
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Some of the main stories out in the South African press:
- Employees at Gupta-linked coal mines still unpaid
- MTN earnings double despite Nigerian woes.