South African Markets - Factors to watch on March 15

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on March 15
Credit: © Reuters.

JOHANNESBURG, March 15 (Reuters) - The following company announcements, equity and currency market moves may affect South African markets on Monday.

COMPANIES

Absa ABGJ.J results

SOUTH AFRICAN MARKETS

South Africa's rand backtracked on Friday, surrendering the previous session's gains as rising U.S. Treasury yields hit global risk demand.

GLOBAL MARKETS

Global stock prices inched higher while U.S. bond yields hovered near a 13-month peak on Monday as investors bet U.S. economic growth would accelerate after the $1.9 trillion stimulus bill President Joe Biden signed into law.

WALL STREET

The blue-chip Dow powered to its fifth consecutive record high on Friday and the S&P 500 closed slightly higher as investors bought shares that should benefit from a strong reopening of the U.S. economy. 

GOLD

Gold prices erased early gains on Monday as hopes of a faster economic recovery got a boost from better-than-expected Chinese industrial output data, while a surge in U.S. Treasury yields kept bullion under pressure.

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

BUSINESS DAY

- Party consensus over basic income grant

- SA hit by more than 800 hours of load-shedding in 2020

FIN 24

- Sanlam (JO: SLMJ ) prepared for at least two more COVID-19 waves

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