South African Markets - Factors to watch on April 16

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on April 16
Credit: © Reuters.

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

SOUTH AFRICAN MARKETS

South Africa's rand rallied to its best in 15 months on Thursday, extending gains from the previous session supported by strong risk appetite and positive local retail sales data.

The FTSE/JSE all-share index .JALSH closed 0.02% higher at 67,823 points. The JSE's bluechip index .JTOPI slipped 0.01% to end at 72,080 points.

GLOBAL MARKETS

A batch of Chinese and U.S. economic data helped underpin global stocks near record highs on Friday, as investors priced in a solid global recovery from the coronavirus-induced slump.

WALL STREET

The Dow industrials .DJI closed above 34,000 for the first time on Thursday as the blue-chip benchmark and S&P 500 .SPX posted fresh record highs on a tech stock rally fuelled by falling bond yields and strong March U.S. retail sales 

GOLD

Gold held steady near a more than one-month high on Friday, en route to its second straight weekly gain, boosted by a drop in U.S. Treasury yields and a weaker dollar.

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

BUSINESS DAY

- Eskom wins court relief in Econ Oil battle over 14 billion rand contract

- African Bank names Kennedy Bungane as its new CEO

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