South African Markets – Factors to watch on Oct 18

0
644

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

 

POLITICS

– All eyes on the ANC elective conference, with the winner
expected to be announced on Monday.

 

ECONOMIC EVENTS

– Weekly data on foreigners trading in bonds and equities.

 

SOUTH AFRICAN MARKETS

South Africa’s rand ZAR=D3 firmed more than 2.3 percent to
12.7800 on Sunday as Cyril Ramaphosa and Nkosazana Dlamini-Zuma
were formally nominated to contest the leadership of the ruling
African National Congress. But by early Monday it had reversed
most of those gains and was trading just 0.08 percent firmer at
13.08/dlr.

 

GLOBAL MARKETS

Asian shares inched up on Monday, tracking Wall Street,
which hit record highs on expectations U.S. lawmakers will pass
a long-awaited tax bill, while the British pound hovered near
3-week lows amid Brexit talks.

 

WALL STREET

Wall Street’s three major indexes climbed to record closing
highs on Friday with broad-based gains as a long-awaited bill to
cut corporate tax rates looked like it would win enough support
from lawmakers to pass.

 

GOLD

Gold prices inched down early on Monday, pressured by firmer
equities and a buoyant dollar after a bill to overhaul the tax
system in the United States moved a step closer to ratification.

 

EMERGING MARKETS

For the top emerging markets news, double click on

– – – –

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

 

BUSINESS DAY

– Fear of deep rift in ANC after leadership race.