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South African Markets - Factors to watch on March 8
The following company announcements, scheduled economic
indicators, debt and currency market moves and political events
may affect South African markets on Friday.
- South Africa auctions inflation-linked bonds and treasury
- MMI Holdings reports half-year diluted normalised
HEPS of 105.3 cents.
SOUTH AFRICAN MARKETS
South Africa's rand fell on Thursday, tracking the euro
lower after the European Central Bank pushed back its forecast
for an interest rate hike and offered banks more cheap loans,
while at home state power utility Eskom got smaller tariff hikes
Stocks weakened as market heavyweight Naspers came
under pressure despite a jump in MTN's shares, which led gainers
across the bourse, after reporting a surge in annual profit.
Asian stocks shuddered lower on Friday after shockingly weak
export data from China heightened market fears about a global
economic slowdown, a day after European policymakers slashed
growth forecasts for the bloc.
Wall Street's main indexes fell for a fourth consecutive
session on Thursday, after Europe's central bank said it would
defer interest rate hikes and offered banks a new round of cheap
loans, raising fresh concerns about global economic growth.
Gold was range-bound on Friday as investors awaited the U.S.
jobs report for further cues on the economy, after the European
Central Bank's (ECB) dovish policy stance spurred the dollar
against the euro, while the metal was on track for a second
straight weekly decline.
For the top emerging markets news, double click on
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Some of the main stories out in the South African press:
- Hike leaves Eskom with 102 bln rand hole
- MTN shares jump 18 pct on asset sales transactions
(Compiled by Olivia Kumwenda-Mtambo)
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