The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday.
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- Anglo American's platinum arm, under pressure from South Africa's government, is expected to sharply scale back plans to cut 14,000 mining jobs as part of an overhaul of the loss-making business, industry sources said on Thursday.
- Harmony Gold reports a third-quarter headline loss of 47 cents per share.
- Nedbank releases its first-quarter trading update.
- Mondi releases its interim management statement.
SOUTH AFRICAN MARKETS
- South African stocks ended higher on Thursday, breaking a three session decline, as retailers such as Massmart and Shoprite recovered from valuation worries.
- South African government bond yields hit record lows again on Thursday and the rand firmed against both the dollar and euro as policy easing in Europe spurred demand for high-yielding assets.
Share markets across Asia mostly rose on Friday after an interest rate cut from the European Central Bank and prospects for more easing lifted hopes that fresh stimulus from yet another major central bank will help foster a stronger global recovery.
U.S. stocks closed about 1 percent higher on Thursday, led by tech shares, after weekly jobless claims figures pointed to improving labor market conditions a day before the closely watched monthly payroll report.
Gold rose more than half a percent on Friday, heading for a second straight weekly gain after the European Central Bank cut interest rates to an all-time low and the U.S. Federal Reserve maintained its bond-buying stimulus programme.
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Some of the main stories out in the South African press:
- Platinum's hopes 'rest on Amplats' jobs plan'
- Lower carbon tax 'still risk to growth'
- Turkcell suit against MTN withdrawn
- NCR shakes up credit industry
(Compiled by Olivia Kumwenda) Keywords: MARKETS SAFRICA FACTORS/
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