South African Markets - Factors to watch on March 8

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on March 8
Credit: © Reuters.

The following scheduled company announcements, equity and currency market moves may affect South African markets on Monday.

COMPANIES

- Retailer Massmart MSMJ.J , majority-owned by Walmart (NYSE: WMT ), announces its full-year results. Old Mutual (LON: OMU ) OMUJ.J issues trading statement.

AFRICAN MARKETS

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.

GLOBAL MARKETS

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

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

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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