March 4, 2019 / 5:28 AM / 5 months ago

South African Markets - Factors to watch on March 4

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

COMPANIES

- Bidvest Group says half-year headline earnings per share up 9.6 percent to 629.1 cents per share.

- RCL Foods reports half-year headline earnings per share of 54.8 cents.

- Stadio Holdings reports full-year results.

SOUTH AFRICAN MARKETS

The South African rand extended losses against a stronger dollar on Friday, after breaching the 14.00 to the dollar mark in the previous session, as doubts over the fate of a U.S.-China trade deal curbed appetite for risk.

Stocks got a boost from relatively upbeat results from property firm Hyprop Investment Ltd, drinks maker Distell Group and African Rainbow Minerals .

GLOBAL MARKETS

Asian shares started the week on the front foot on signs the United States and China were close to striking a tariff deal to end their protracted trade war while the dollar eased as traders wagered Federal Reserve policy would remain accommodative.

WALL STREET

The S&P 500 and the Dow Jones Industrial Average snapped a three-day run of losses on Friday as optimism about the prospects for a U.S.-China trade agreement countered downbeat U.S. and China manufacturing data.

GOLD

Gold prices edged higher on Monday, after falling below the critical $1,300 level to their lowest since Jan. 25 in the previous session, as the dollar softened on prospects of a trade deal between China and the United States.

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

- NPA says it is ready to face Zuma in court

- Edcon CEO: focus is now on fixing the business

BUSINESS REPORT

- Alexander Forbes is facing a ‘de facto’ takeover (Compiled by Olivia Kumwenda-Mtambo)

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