South African Markets – Factors to watch on Dec,31

The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Friday.

ECONOMIC EVENTS

Money supply data at 0600 GMT

SOUTH AFRICAN MARKETS

South Africa’s rand was flat in thin trade on Thursday as the currency struggled to make meaningful gains against a stronger dollar, while stocks edged higher.

GLOBAL MARKETS

Global stock markets reversed gains after a day-long rally on Thursday even as fresh U.S. economic data indicated that a recent uptick of Omicron COVID-19 variant-related infections has not yet led to a surge in layoffs, a positive sign for the economy.

WALL STREET

Wall Street closed lower on Thursday, retreating late in thin holiday volume from record highs set early in the session on strong U.S. data including a drop in weekly claims for U.S. unemployment benefits.

GOLD

Gold was set for its worst performance in six years, though prices inched up in thin trade on Friday as U.S. Treasury yields dipped, increasing the bullion’s appeal by reducing its opportunity cost.

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

– Government lifts curfew ahead of New Year’s eve

– Eskom says Kusile unit four has been added to SA’s electricity grid

FIN 24

– Pick n Pay denies customer data was exposed online despite ‘glitch’

– New consortium deal buys Ascendis Health a short time to repay billions in debt

Compiled by Nqobile Dludla

Our Standards: The Thomson Reuters Trust Principles.