November 12, 2018 / 5:42 AM / a month ago

South African Markets - Factors to watch on Nov. 12

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

ECONOMIC EVENTS

- No major releases.

COMPANIES

- Full Year 2018 Lonmin Earnings Call.

- Q2 2019 Vodacom Group Earnings.

- Rebosis Full-Year Earnings Release

SOUTH AFRICAN MARKETS

South Africa’s rand weakened on Friday in line with emerging market currencies as indications the United States central bank would stay on a policy tightening path drained the demand for risk that followed U.S. election results.

Stocks fell largely due to subdued risk demand globally and weak consumer demand locally.

GLOBAL MARKETS

Asian shares drifted lower on Monday as signs of softening demand in China rekindled anxiety about the outlook for world growth, but Saudi Arabia’s plans to cut production helped to halt a slide in oil prices.

WALL STREET

Wall Street’s three major stock indexes lost ground on Friday, after a week of recovery from the October sell-off, as oil prices fell further and more evidence of a slowing Chinese economy was reported.

GOLD

Gold prices steadied on Monday after touching a one-month low in the previous session, but the metal remains under pressure from a firmer U.S. dollar and expectations the Federal Reserve is on track to tighten borrowing costs.

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

- Roads agency Sanral struggling to remain going concern

- Competition regulator says SABC-Multichoice deal violated rules.

BUSINESS REPORT

- Cape Town facing 430 million rand ($30 million) civil claim over World Cup stadium. ($1 = 14.3125 rand)

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