WORKFORCE:  165   0 (0.00%)  27/05/2019 00:00

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.

COMPANIES

- 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 earnings.

- 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 recession.

Stocks closed up slightly as riskier assets showed signs of stability, while the bullion sector weighed on further gains.

GLOBAL MARKETS

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.

WALL STREET

U.S. stocks gained on Tuesday, with financials snapping a five-day losing streak as Treasury yields stabilized above 15-month lows.

GOLD

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.

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

- Alex Forbes to sell insurance business

BUSINESS REPORT

- 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)

2019-03-27 07:59:12

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