South African Markets - Factors to watch on March 27
The following company announcements, scheduled economic
indicators, debt and currency market moves and political events
may affect South African markets on Wednesday.
- Troubled South African retailer Steinhoff International
Holdings <NV SNHJ.J> said on Wednesday it had raised 4.8 billion
rand ($332 million) from the sale of its 26 percent stake in KAP
Industrial Holdings Ltd.
- Nampak publishes trading update for the five
months to 28 February 2019.
- Workforce Holdings Ltd reports full-year
- Rhodes Food Group Holdings releases trading
update for the five months ended February 2019.
SOUTH AFRICAN MARKETS
South Africa's rand slipped on Tuesday, surrendering the
previous session's gains as the dollar rebounded from a sell-off
triggered by fears the United States economy is heading for
Stocks closed up slightly as riskier assets showed signs of
stability, while the bullion sector weighed on further
Asian shares slipped on Wednesday, giving up small gains
made the previous day as investors tried to come to terms with a
sharp shift in U.S. bond markets and the implications for the
world's top economy.
U.S. stocks gained on Tuesday, with financials snapping a
five-day losing streak as Treasury yields stabilized above
Gold inched up on Wednesday, after declining the most in
nearly two weeks in the previous session, as U.S. recession
fears triggered by a sharp decline in U.S. Treasury yields and
weak data weighed on the share 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:
- Alex Forbes to sell insurance business
- Court halts CIPC move to withdraw PIC's 4.3 bln rand
investment in AYO
- Another acting PIC chief as scalps mount
(Compiled by Olivia Kumwenda-Mtambo)
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