South African Markets – Factors To Watch For On Nov 29th

The following scheduled economic events, company announcements, stock and currency market movements may affect the South African markets on Monday.

COVID-19

– South Africa’s Minister of Health Joe Phaahla, along with a panel of scientists, will hold a media briefing on Monday about the new variant of COVID-19, which has caused global concern.

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ECONOMIC EVENTS

– South Africa’s central bank releases October monetary data at 0600 GMT.

SOUTH AFRICAN MARKETS

The South African rand fell to its lowest level since October 2020 on Friday, government bond yields hit 10% briefly and stocks lost more than 2% after a variant of COVID-19 was discovered in the country, described as the most worrying , but investors fled security.

GLOBAL MARKETS

U.S. stock futures caused the market to rebound on Monday as investors prepared to wait a few weeks to see if the Omicron coronavirus variant would really wreak havoc on the economic recovery and tightening plans of some central banks.

WALL STREET

US stocks closed lower on Friday, with the Dow .DJI and S&P 500 .SPX taking their biggest day percent drop in months, and pandemic sectors that had benefited from a reopening fell sharply after a new one Coronavirus mutation was found.

GOLD

Gold rose slightly on Monday as concerns about the impact of the potentially vaccine-resistant variant of Omicron coronavirus helped make the precious metal a safe haven.

EMERGING COUNTRIES

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Compiled by Olivia Kumwenda-Mtambo

Our Standards: The Thomson Reuters Trust Principles.

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