ECONOMIC EVENTS Foreigners' trading in South African bonds and equities
COMPANIES African telecoms major and South Africa's biggest mobile carrier Vodacom Group reported a 6.4% drop in full-year profit due to a local power crisis and other operational activities.
SOUTH AFRICAN MARKETS The South African rand set a record closing low against the dollar on Friday but ended far from session lows after officials said the country had not approved any arms shipment to Russia late last year. The blue-chip index of top 40 companies ended up 1.85% and the all-share index was up by 1.73%, both securing small gains for the week. GLOBAL MARKETS Asian stocks started the week on a cautious note as investors braced for the release of China's industrial and retail data, while awaiting a host of U.S. Federal Reserve officials to speak to vindicate market pricing of rate cuts this year. WALL STREET U.S. stocks ended slightly lower on Friday, led by weaker megacap shares following their recent rally, as data showed U.S. consumer sentiment dropped to a six-month low. GOLD Gold prices edged higher on Monday as the U.S. debt ceiling stalemate and concerns of an economic slowdown steered some traders towards the safe-haven metal. EMERGING MARKETS For the top emerging markets news, double click on - - - -
Some of the main stories out in the South African press:
BUSINESS DAY - Standard Chartered pours cold water on Eskom’s privatisation prospects (Compiled by Bhargav Acharya)
