South African Markets

JOHANNESBURG, Feb 7 (Reuters) – The following scheduled economic events, equity and currency market moves may affect South African markets on Friday.

ECONOMIC EVENTS

South Africa’s net foreign reserves rose to $61.328 billion in January

South African inflation-linked bond auction

The South African rand was little changed on Thursday as investors turned their attention to President Cyril Ramaphosa’s national address for insights on future economic and political policies.

On the stock market, the Top-40 index closed 0.9% higher.

GLOBAL MARKETS

Asian stocks inched up on Friday ahead of key U.S. payrolls data as investors considered prospects that a broader trade war could be averted, while the yen hit its highest in nearly two months on rising odds of more rate hikes in Japan this year.

WALL STREET

The S&P 500 and the Nasdaq ended higher while the Dow closed lower after a choppy trading session on Thursday, as investors sifted through earnings reports and awaited Amazon’s results after the bell and a key jobs report on Friday.

GOLD

Gold prices rose on Friday, hovering near record-high levels and set for a sixth successive weekly gain, as trade war concerns fuelled safe-haven buying ahead of the key U.S. payrolls report.

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Some of the main stories out in the South African press:

BUSINESS DAY

– Anglo faces second De Beers writedown

FIN 24

– Ramaphosa punts second wave of economic reform and big infrastructure plans

– No R1bn state bailout to save ArcelorMittal mills, but a rescue package is expected soon

(Compiled by Sfundo Parakozov)

ECONOMIC EVENTS