(Corrects date in headline to Feb. 19) The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday.
- No major releases.
- Quantum Foods Holdings Ltd QFHJ.J Annual Shareholders Meeting.
- Half Year 2021 Truworths International Ltd TRUJ.J Earnings Call.
SOUTH AFRICAN MARKETS
South Africa's rand firmed on Thursday as the U.S. dollar and Treasury yields eased, with the local unit recovering from losses in two previous sessions.
Stocks closed weaker, weighed down by mining. JMINI and financial. JFINI shares, with the Johannesburg all-share index. JALSH closing 0.8% weaker at 66,575 points, while the Top-40 index.JTOPI fell 0.86% to 61,206 points.
Asian stocks pulled back from all-time peaks on Friday as higher longer-dated bond yields and underwhelming U.S. data dented investor confidence in a faster economic recovery from the COVID-19 pandemic, while gold hit a seven-month trough.
Stocks on Wall Street closed lower on Thursday as investors shifted out of big technology names, while an unexpected rise in weekly U.S. jobless claims pointed to a fragile recovery in the labor market.
Gold prices fell to their lowest in more than seven months on Friday, on course for their worst week since the end of November, as rising U.S. Treasury yields eroded the non-yielding bullion's appeal.
Some of the main stories out in the South African press:
- No welcome sign for immigrants in draft critical skills list.
- The Department of Mineral Resources and Energy (DMRE) yesterday confirmed that non-compliance with the Petroleum Products Act (PPA) was rampant.
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