South African Markets - Factors to watch on Nov 5

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on Nov 5
Credit: © Reuters.

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


South African drug store chain Dis-Chem Pharmacies Ltd DCPJ.J reported on Thursday a 16.2% rise in half-year earnings as it benefited from being an essential services provider during the COVID-19 pandemic, although it was restricted from selling some items.


The South African rand recovered against the U.S. dollar on Wednesday afternoon, as global markets whipsawed amid a far closer U.S. presidential election than polls had predicted.


Asian shares climbed on Thursday and bonds extended their blistering rally as investors wagered the prospect of U.S. policy gridlock would greatly favour some industries while also restraining government borrowing


U.S. stock market futures were marginally higher late on Wednesday as the presidential election race remained cloudy and the likelihood of gridlock in Congress made investors optimistic that major policy changes would be difficult to enact.


Gold firmed on Thursday as investors were cautiously optimistic Democrat Joe Biden would edge past President Donald Trump in a tight race to the White House, boosting the likelihood of more economic stimulus.

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


- Healthier Mr Price puts R3.6bn rights issue on ice

- PPC needs to find ways to reduce debt


- Support for Steinhoff (JO: SNHJ )'s proposal to settle legacy litigation and claims

- Sasfin secures millions in funding to help revive Covid-19 hit businesses

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