South African Markets - Factors to watch on April 7

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on April 7
Credit: © Reuters.

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.

ECONOMIC EVENTS

- Central bank publishes March foreign reserves data ZAFXRS=ECI . 0600 GMT

COMPANIES

- No major releases.

SOUTH AFRICAN MARKETS

South Africa's rand powered to its firmest in almost a week on Monday, climbing down from an all-time low as some investors banked profits while risk sentiment was cheered by signs the spread of the novel coronavirus was easing

The Johannesburg Stock Exchange's Top-40 index .JTOPI rose 3.63% to 42,356.59 points and the All-Share index .JALSH climbed 3.29% to 46,066.94 points. .J ZAR/

GLOBAL MARKETS

Asian stock markets rallied for a second day on Tuesday, and riskier currencies rose, buoyed by tentative signs the coronavirus crisis may be levelling off in New York and receding in Europe. MKTS/GLOB

WALL STREET

U.S. stocks rocketed higher on Monday, with each of the major indexes rallying at least 7%, after a fall in the daily death toll in New York, the country's biggest coronavirus hot spot, fuelled optimism a levelling off of the pandemic was on the horizon. .N

GOLD XAU=

Gold prices eased on Tuesday from a one-month high as the U.S. dollar gained strength on signs of a slowdown in fresh coronavirus cases, but concerns over the economic fallout from the pandemic provided a floor to bullion. GOL/

EMERGING MARKETS

For the top emerging markets news, double click on - - -

Some of the main stories out in the South African press:

BUSINESS DAY

- Most Telkom TKGJ.J retrenchees opt to leave voluntarily

- Mines must return to work on April 17 "or face permanent damage" - Mines Council

BUSINESS REPORT

- Shoprite Group SHPJ.J rolls out new social distancing and hygiene measures.

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