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South African Markets – Factors to watch on April 9

PUBLISHED: Fri, 09 Apr 2021 05:17:43 GMT

JOHANNESBURG, April 9 (Reuters) – The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Friday.

ECONOMIC EVENTS

South Africa’s gross and net forex reserves

COMPANIES

Royal Bafokeng Platinum annual shareholders meeting

SOUTH AFRICAN MARKETS

South Africa’s rand rallied to its best level in six-weeks on Thursday, shaking off sluggish manufacturing data as global demand for high-yielding currencies was lifted by growing bets that lending rates in the United States will remain low.

Equities fell after local manufacturing output contracted 2.1% year on year in February, more than expected.

GLOBAL MARKETS

Global stocks held firm near record highs on Friday as receding inflation fears in the United States pushed down bond yields and lifted Wall Street, though softness in Chinese shares capped gains in Asia.

WALL STREET

The S&P 500 closed at a record high on Thursday, as U.S. Treasury yields fell following softer-than-anticipated labor market data, boosting technology and other growth stocks.

GOLD

Gold prices fell on Friday as robust economic data from China boosted hopes of a swift recovery, although bullion was set to rise more than 1% on the week as the U.S. dollar and Treasury yields pulled back from recent highs.

EMERGING MARKETS

For the top emerging markets news, double click on

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

BUSINESS DAY

– Eskom makes plans to avoid Oracle switch-off (Compiled by Promit Mukherjee)

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