South African Markets - Factors to watch on December 30

About this update from Aspen Pharmacare Holdings Limited

The following scheduled economic events, equity and currency market moves may affect South African markets on Tuesday.ECONOMIC EVENTSNovember budget balance data (ZABUDM=ECI) SOUTH AFRICAN MARKETSThe South African rand softened in early trade on Monday as investors booked profits from a precious metals rally.On the Johannesburg Stock Exchange, the Top-40 index TVC:SA40 was last up 0.2% in early trade, with Aspen Pharmacare's shares rising more than 20% after the pharmaceuticals company announced plans to sell its major Asia Pacific assets, excluding China, for $1.6 billion.GLOBAL MARKETS Asian shares slipped on Tuesday, tracking Wall Street's tech slump, while silver and gold steadied after a sharp pullback from record highs took some froth off the precious metals' incredible rally.WALL STREETWall Street's main indexes ended lower on Monday, kicking off the final week of the year on a softer note, as heavyweight technology stocks retreated from last week's gains that had pushed the S&P 500 to record highs.GOLDGold rose on Tuesday to recover from a two-week low hit in the previous session on year-end profit-taking that sparked a broad pullback in precious metals from earlier peaks.EMERGING MARKETSFor the top emerging markets news, double click on - - - - Some of the main stories out in the South African press:NEWS24- New push for open African skies as airline profits lag- Mass retrenchments loom at SA’s last manganese smelter

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