South African Markets - Factors to watch on March 03

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on March 03
Credit: © Reuters.

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

ECONOMIC EVENTS

Statistics South Africa releases Q4 2019 GDP figures at 0930 GMT.

COMPANIES

South Africa's Nedbank NEDJ.J said on Tuesday its profits for the year to Dec. 31 fell by 6.7% as a weak economy at home, rising impairments and a number of one-off items hurt its performance. AFRICAN MARKETS

South Africa's rand strengthened on Monday as central banks abroad signalled a willingness to shield their economies against the coronavirus, though the currency was restrained by anticipation of another batch of grim local data. .J ZAR/

GLOBAL MARKETS

Global shares and oil prices extended their rebound on Tuesday on mounting speculation policymakers around the world would move to ease the economic fallout from the spreading coronavirus, ahead of a conference call by Group of Seven heads. MKTS/GLOB

WALL STREET

The Dow Jones Industrial Average surged over 5% on Monday while the S&P 500 and Nasdaq each jumped more than 4% in a major rebound following last week's steep sell-off sparked by fears about the coronavirus. .N

GOLD XAU=

Gold prices rose for a second straight session on Tuesday, as expectations grew for monetary policy easing by major central banks to cushion the economic fallout from the fast-spreading coronavirus outbreak. GOL/

EMERGING MARKETS

For the top emerging markets news, double click on - - -

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

BUSINESS DAY

- Bidvest (JO: BVTJ ) eyes new acquisitions in 'burgeoning' hygiene sector

- Financial losses force Ellies to look at job cuts

BUSINESS REPORT

- Pam Golding is under intense scrutiny

- President backs Mboweni's public wage reduction plan

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