South African Markets - Factors to watch on Jan. 21

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

ECONOMIC EVENTS

Statistics South Africa is set to release retail sales data for November at 0900 GMT, while the South African Reserve Bank will announce its interest rate decision at 1300 GMT.

COMPANIES

Retailer Massmart has published a 52-week trading update.

SOUTH AFRICAN MARKETS

South Africa's rand and stocks were boosted on Wednesday by U.S. Treasury Secretary nominee Janet Yellen underscoring the need for stimulus to help the world's largest economy recover from the coronavirus pandemic.

GLOBAL MARKETS

Asian stocks rose to new record highs on Thursday, tracking U.S. markets as investors hoped for more economic stimulus from newly inaugurated U.S. President Joe Biden to offset damage wreaked by the COVID-19 pandemic.

WALL STREET

U.S. stocks closed at record highs on Wednesday as Joe Biden was sworn in as the 46th U.S. president, while solid results from Netflix sparked a rally in shares of "stay-at-home" beneficiaries.

GOLD

Gold rose to a two-week high on Thursday as the dollar eased on hopes of further stimulus under the Joe Biden administration, although bullion's gains were limited by some profit booking.

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

- SA paying double rate for Covid vaccines from Serum Institute of India

- PetroSA plans to cut a third of its jobs

BUSINESS REPORT

- Wine exports improve on favourable weather despite Covid-19 threat to vineyard production

2021-01-21 07:45:28

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