South African Markets - Factors to watch on Jan 13

Reuters
01-13
South African Markets - Factors to watch on Jan 13

JOHANNESBURG, Jan 13 (Reuters) - The following scheduled economic events, equity and currency market moves may affect South African markets on Monday.

ECONOMIC EVENTS

Weekly t-bill auction

Foreigners' trading in South African bonds and equities

SOUTH AFRICAN MARKETS

The South African rand weakened to an eight-month low on Friday after U.S. non-farm payrolls data reinforced bets that the Federal Reserve will pause its rate-cutting cycle later this month.

On the Johannesburg Stock Exchange, the blue chip Top-40 index .JTOPI closed down about 0.3%. .JZAR/

GLOBAL MARKETS

Stocks slid broadly in Asia on Monday while the dollar hit 14-month peaks in the wake of an unambiguously strong payrolls report that pushed up bond yields and tested lofty equity valuations just as the earnings season gets under way. MKTS/GLOB

WALL STREET

U.S. stocks sold off on Friday, with the S&P 500 erasing its 2025 gains, after an upbeat jobs report stoked fresh inflation fears, reinforcing bets that the Federal Reserve will be cautious in cutting interest rates this year. .N

GOLD

Gold prices edged lower on Monday as a stronger-than-expected U.S. jobs report reinforced the Federal Reserve's cautious stance on rate cuts and boosted the U.S. dollar, weighing on the bullion. GOL/

EMERGING MARKETS

For the top emerging markets news, double click on nTOPEMRG

- - - -

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

BUSINESS DAY

- Life Healthcare to sell LMI for R6.475bn

- Standard Bank says R700bn windfall can revive rail and water infrastructure

FIN 24

- Do or die for Renergen as it runs low on time, money and investor patience

- Doctors urge cybersecurity overhaul to shield state lab from 'inevitable' ransomware attacks

(Compiled by Bhargav Acharya)

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