November 22, 2018 / 6:03 AM / 6 months ago

South African Markets - Factors to watch on Nov 22

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


MR PRICE GROUP LTD posted an 11.6 percent rise in half-year earnings on Thursday, boosted by sales growth in its apparel and homeware segments.

STEINHOFF said on Thursday that its U.S.-based unit Mattress Firm Inc emerged out of bankruptcy with access to $525 million in exit financing, within two months of after filing for Chapter 11 protection.

TIGER BRANDS plans to spin off its $350 million stake in seafood company OCEANA , it said on Thursday, as it reported a 26 percent drop in annual profit.


South Africa’s rand raced to a two-week high against the dollar on Wednesday, in line with a rebound in some other emerging market currencies, as investors piled into riskier assets and sold the greenback.


Asian shares seesawed in cautious trading on Thursday with China extending losses as investors fretted about slowing global growth in the face of rising U.S. interest rates and trade tensions.


The S&P 500 ended higher on Wednesday after a brutal two-day selloff, led by a rebound in energy and technology shares, but the market faltered toward the session’s end as Apple shares surrendered gains ahead of the Thanksgiving holiday.


Gold prices held firm on Thursday after hitting the highest in two weeks in the previous session, with improved risk appetite weighing on the U.S. dollar.


For the top emerging markets news, double click on

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Some of the main stories out in the South African press:


- Matjila offers to go, if PIC board plays ball

- Eskom halves maintenance spending in financial crunch


- Rand gains to dip below 14 to the dollar

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