South African Markets – Factors to watch on Nov 17

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JOHANNESBURG, Nov 17 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday.
ECONOMIC EVENTS
Weekly bond auction

SOUTH AFRICAN MARKETS
South Africa’s rand firmed on Thursday, helped by favourable sentiment for emerging market currencies and upbeat retail sales data a day earlier, while stocks ended higher lead by pulp and paper producer Sappi.

GLOBAL MARKETS
Asian shares rose firmly on Friday as strong U.S. earnings and a step forward in Congress on U.S. tax reform brightened the mood, even though investors noted that many hurdles remain to passage of a deal on tax cuts.

WALL STREET
Wall Street’s main indexes rose sharply on Thursday boosted by earnings-related gains in Wal-Mart and Cisco, while a tax bill expected to boost corporate earnings passed its first, if smallest, hurdle.

GOLD
Gold prices stayed on track for a second straight weekly gain early on Friday as they crept up on a weaker dollar, although trading remained in a tight range amid expectations of a U.S. interest rate hike next month.

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

BUSINESS DAY
– McKinsey yet to arrange to refund Eskom
– Corruption watchdog finds more than 20 banks handled Gupta money in Transnet deal

BUSINESS REPORT
– Old Mutual Wealth on track to list next year
(Reporting by Alexander Winning)