South African Markets - Factors to watch on Dec 8
JOHANNESBURG, Dec 8 (Reuters) -The following scheduled economic event, equity and currency market moves may affect South African markets on Friday.
Weekly inflation-linked bond auction
SOUTH AFRICAN MARKETS
The South African rand gained on Thursday on increasing bets that the U.S. Federal Reserve might implement interest rate cuts early next year.
On the Johannesburg Stock Exchange, the blue-chip Top-40 index .JTOPI closed over 0.8% lower. .JZAR/
Japanese markets were reeling on Friday, with the Nikkei heading for its biggest weekly drop since October, bonds battered and the yen surging toward its largest weekly gain for five months as investors rushed out of bets on Japanese rates staying low. MKTS/GLOB
The Nasdaq ended sharply higher on Thursday after Alphabet and Advanced Micro Devices sparked a megacap rally on fresh optimism about artificial intelligence. .N
Gold prices were on track for their first weekly fall in four after the dollar firmed, although they held steady on Friday as markets looked ahead to key U.S. jobs data to gauge the chance of a rate cut by the Federal Reserve as early as March. GOL/
For the top emerging markets news, double click on nTOPEMRG
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Some of the main stories out in the South African press:
- Vumatel owner has R25bn to spend on fibre expansion
- Nersa approves 98 new power projects in three months
- Dan Marokane set to be appointed as Eskom CEO
- Gordhan: Law enforcement is not acting against corruption
(Compiled by Bhargav Acharya)</body></html>
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