South African Markets – Factors to watch on April 8

PUBLISHED: Thu, 08 Apr 2021 04:59:40 GMT

JOHANNESBURG, April 8 (Reuters) – The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Thursday.


– South Africa’s manufacturing production month-on-month and year-on-year


South Africa’s rand edged lower on Wednesday to 14.5225 per dollar in cautious trade as investors awaited local and international signals with little to drive a move in either direction.

Stocks fell, led by market heavyweight Naspers and technology investment company Prosus NV after it said it will sell a 2% stake in software group Tencent, worth about $15 billion at current prices, in what could potentially be the biggest block trade on record.


Asian share markets lagged on Thursday as U.S. stock futures nudged to another record high after the Federal Reserve underlined its commitment to keeping policy super loose even as the economy enjoys a rapid recovery.


Major averages hovered near unchanged on Wednesday, with the S&P 500 closing up slightly after the Federal Reserve released minutes from its most recent meeting that reinforced the U.S. central bank’s position to remain patient before raising rates.


Gold prices slipped on Thursday as investors turned to riskier assets after the U.S. Federal Reserve’s latest meeting minutes indicated continued policy support and cemented hopes of a quick economic turnaround.


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– – – – (Compiled by Promit Mukherjee)

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