South African Markets - Factors to watch on March 8
The following scheduled company announcements, equity and currency market moves may affect South African markets on Monday.
, majority-owned by Walmart (NYSE:
), announces its full-year results. Old Mutual (LON:
issues trading statement.
South Africa's rand was set for a weekly loss of more than 2% against the dollar on Friday, as higher bond-market borrowing costs and a rising dollar sapped risk appetite.
Stocks ended higher, led by petrochemical firm Sasol's SOLJ.J 14% surge.
Share markets turned mixed on Monday as the U.S. Senate passage of a $1.9 trillion stimulus bill augured well for faster global economic growth, but also put fresh pressure on Treasuries and tech stocks with lofty valuations.
Wall Street ended sharply higher after a volatile session on Friday, with the Nasdaq rebounding at the end of a week that saw it extend losses to about 10% from its previous record high.
Gold prices bounced back on Monday from a nine-month low hit in the previous session as the dollar softened, while passage of a long awaited U.S. coronavirus stimulus package boosted the bullion's appeal as a hedge against inflation.
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