Business
South African Markets - Factors to watch on November 14
South African Markets - Factors to watch on November 14
About this update from Firstrand Limited
The following scheduled economic events, equity and currency market moves may affect South African markets on Friday.ECONOMIC EVENTSSouth African Reserve Bank Inflation-linked bond auctionS&P Global scheduled to review South Africa's sovereign credit ratingSOUTH AFRICAN MARKETSSouth Africa's currency, stocks and bonds extended their rally on Thursday as investors cheered signs of fiscal discipline after the government's medium-term budget policy statement.The local bourse's Top-40 index TVC:SA40 rose 2.3%. GLOBAL MARKETS Asian shares tumbled on Friday, joining a global selloff as hawkish comments from Federal Reserve officials hosed down hopes for a U.S. rate cut next month, while a still-messy data calendar added to the angst. WALL STREETWall Street ended sharply lower on Thursday, with steep losses in Nvidia and other AI heavyweights, as investors scaled back expectations of interest rate cuts due to inflation worries and divisions among central bankers about the U.S. economy's health. GOLDGold prices rose on Friday and were on track for a weekly rise, supported by a weaker dollar as investors waited for more U.S. economic data to gauge the likelihood of a December rate cut after hawkish comments from Federal Reserve officials. EMERGING MARKETSFor the top emerging markets news, double click on - - - - Some of the main stories out in the South African press:BUSINESS DAY- Capitec and FirstRand near 500bln rand valuation in banking race- SA business leaders push for return to investment-grade ratingNEWS24- SABC funding model report delayed until February, says Malatsi