November 23, 2018 / 5:45 AM / 20 days ago

South African Markets - Factors to watch on Nov 23

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

CORPORATE DIARY

PPC on Friday reported 11 percent increase in half-year headline earnings per share (EPS) on the back of strong growth in the rest of Africa, which offset weak local performance.

LIFE HEALTHCARE reported on Friday a 40.6 percent jump in full-year earnings, helped by the inclusion of Britain’s Alliance Medical’s results in the period.

SOUTH AFRICAN MARKETS

South Africa’s rand rallied more than 1 percent on Thursday after the central bank raised benchmark lending rates for the first time in nearly three years in a close decision that underlined the bank’s hawkish stance.

GLOBAL MARKETS

Asian shares slipped on Friday as trade tensions continued to hurt sentiment, while weak corporate earnings in Europe added to worries about global growth and outweighed hopes for progress in Brexit negotiations.

WALL STREET

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

Gold prices inched up on Friday, set to rise for the second straight week, on safe-haven demand for the metal ahead of the G20 summit next week where the leaders of the United States and China are set to discuss their trade dispute.

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

- Bank raises interest rates on inflation risks

- Amcu to expand strike

BUSINESS REPORT

- Rand celebrates SARB interest rate hike

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