South African Markets - Factors to watch on Feb. 26

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on Feb. 26
Credit: © Reuters.

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

COMPANIES

- Petrochemicals group Sasol SOLJ.J sees half-year profits 17 percent higher on the back of rising crude oil prices, the firm said on Monday. South African poultry producer RCL Foods RCLJ.J said its first-half profit jumped 55 percent on the back of improved earnings in the chicken business unit. -Bidvest Group BVTJ.J says half-year headline earnings per share up 12.5 percent. Hulamin Ltd HLMJ.J says full-year headline earnings per share fall by 13 percent. AFRICAN MARKETS

South Africa's rand firmed on Friday amid talk that new President Cyril Ramaphosa is likely to announce a new cabinet after a party meeting over the weekend, while stocks rose led by the banking sector.

On the bourse, the benchmark Top-40 index .JTOPI rose 0.95 percent to 51,747 points while the All-Share index .JALSH lifted 0.96 percent to 58,715 points. .J ZAR/

GLOBAL MARKETS

Asian shares made guarded gains on Monday as investors braced for an event-packed week headlined by U.S. inflation data and the first House testimony by the new head of the Federal Reserve. MKTS/GLOB

WALL STREET

U.S. stocks rallied on Friday, lifted by gains in technology stocks and a retreat in Treasury yields as the Federal Reserve eased concerns about the path of interest rate hikes this year. .N

GOLD XAU=

Gold prices edged up on Monday after declining more than 1 percent last week, buoyed by a weaker U.S. dollar as investors waited for possible clues on the pace of U.S. monetary tightening. GOL/

EMERGING MARKETS

For the top emerging markets news, double click on - - -

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

BUSINESS DAY

- ANC 'is moving with speed' on new Cabinet

- Bank, Treasury pushed for smaller African Bank fine

BUSINESS REPORT

- One of largest borrowers now in Africa

- Moody's downgrade unlikely - Treasury

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