South African Markets - Factors to watch on Feb. 25

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on Feb. 25
Credit: © Reuters.

JOHANNESBURG, Feb 25 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday.

ECONOMIC EVENTS

- South Africa's y-o-y and m-o-m Producer Price Index ( PPI )

COMPANIES

- Liberty Holdings LBHJ.J Q4 results

- Impala Platinum Holdings IMPJ.J half year results

- Woolworths Holdings WHLJ.J Q2 results

- Discovery Ltd (JO: DSBPp ) DSYJ.J half year results

SOUTH AFRICAN MARKETS

South Africa's rand strengthened on Wednesday afternoon, then fell back, as investors digested a budget meant to contain COVID-19 but avoid a debt spiral.

South African stocks reacted positively to the budget, with the Johannesburg Stock Exchange's Top-40 index. JTOPI rising 0.4% to 60,747 points and the All-Share Index.JALSH up 0.4% to 66,201 points.

GLOBAL MARKETS

Asian stocks jumped on Thursday after U.S. Federal Reserve Chair Jerome Powell reaffirmed interest rates would stay low for a long time, calming market fears that higher inflation might prompt the central bank to tighten the monetary spigot.

WALL STREET

Shares on Wall Street ended higher on Wednesday, as a selloff in technology-related stocks eased and a rotation into cyclical shares continued after Federal Reserve Chair Jerome Powell's comments calmed inflation worries.

GOLD

Gold eased on Thursday as U.S. Treasury yields hovered near a one-year peak, tarnishing bullion's appeal, although a softer dollar and Federal Reserve Chair Jerome Powell's commitment to an accommodative policy limited its fall.

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