South African Markets - Factors to watch on March 18

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on March 18

JOHANNESBURG, March 18 (Reuters) - The following company announcements, equity and currency market moves may affect South African markets on Thursday.

Companies

Exxaro ( EXXJ.J ) results

South African Markets

South Africa's rand steadied in late afternoon trade on Wednesday, as markets waited for the conclusion of the U.S. Federal Reserve's two-day policy meeting for its outlook on the economy and interest rates.

Global Markets

Asian shares and U.S. stock futures rose on Thursday after the Federal Reserve committed to maintaining accommodative monetary policy and projected a rapid jump in U.S. economic growth this year as the COVID-19 crisis eases. 

Wall Street

The S&P 500 and Dow Jones Industrial Average closed at record highs on Wednesday after the Fed predicted a fast economic recovery from the coronavirus pandemic and said it would maintain its interest rate at close to zero.

Gold

Gold prices rose to a more than two-week high on Thursday after the U.S. Federal Reserve reaffirmed its stance to keep interest rate near zero, although the safe-haven metal's gains were capped by its forecast of a strong economic rebound. 

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

Business Day

- Sinovac offers 5 million coronavirus vaccines to SA

FIN 24

- More than 50% of medical aid members back COVID-19 vaccination funding for non-members

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