South African Markets - Factors to watch on April 16

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on April 16

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

SOUTH AFRICAN MARKETS

South Africa's rand tumbled on Wednesday as concerns grew of a deep global recession concentrated in emerging markets, adding to a selloff triggered when the central bank unexpectedly cut local lending rates the previous session.

Equities in Johannesburg also slid, with the all-share index .JALSH down 3.15% to close at 48301.28. The top 40 companies' index .JTOPI fell 3.02% to 44202.90 points.

GLOBAL MARKETS

World stock markets fell on Thursday, while bonds and the dollar held on to hefty gains, after a coronavirus-driven plunge in U.S. retail sales and factory production and increasing gloomy economic outlooks for Asia.

WALL STREET

U.S. stocks fell on Wednesday as dismal economic data and first-quarter earnings reports compounded concerns over the extent of damage from the coronavirus outbreak.

GOLD

Gold prices edged lower on Thursday as the dollar firmed and investors booked profits, but losses were capped as dour retail sales and manufacturing data out of the United States heightened fears of a steep global recession due to the new coronavirus. 

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