Some of the main stories out in the South African press: BUSINESS DAY - Work on basic income grant is under way, Ramaphosa says FIN 24 - New minister of electricity may cause confusion and 'turf wars', experts warn (Compiled by Nellie Peyton)
JOHANNESBURG, Feb 10 (Reuters) - The following scheduled
economic events, equity and currency market moves may affect
South African markets on Friday.
ECONOMIC EVENTS
Inflation-linked bond auction
Treasury bill auction
SOUTH AFRICAN MARKETS
South Africa's rand weakened against the dollar on Friday
after President Cyril Ramaphosa gave his annual State of the
Nation Address to parliament, declaring a national "state of
disaster" to tackle the energy crisis. GLOBAL MARKETS
Asia-Pacific stocks fell on Friday, slumping toward a second
weekly loss as investors fretted about the potential for further
Federal Reserve tightening and the effect on the U.S.
economy. WALL STREET
U.S. stock indexes ended lower on Thursday, erasing earlier
gains as Treasury yields rose after an auction of 30-year bonds
went poorly and overshadowed strong earnings from corporate
giants like Disney and PepsiCo. GOLD
Gold prices edged lower on Friday and were headed for a
second straight weekly fall, as investors remained wary of
impending interest rate hikes by the U.S. Federal Reserve to
tame high inflation. EMERGING MARKETS
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