South African Markets - Factors to watch on August 25

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on August 25
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

South Africa's central bank to publish its composite leading business cycle indicator.

South Africa's Treasury auctions long-term bond notes.

COMPANIES

Imperial Logistics ( IPLJ.J ) reports full-year results

Lewis (JO: LEWJ ) reports annual results

SOUTH AFRICAN MARKETS

South Africa's rand rallied on Monday, helped by a risk-on mood on global markets after U.S. regulators approved a treatment for COVID-19 patients.

On the Johannesburg bourse, the Top-40 index ( .JTOPI ) rose 1.1% to 52,256 points, while the All-share index (.JALSH) gained 1.2% to 56,625 points.

GLOBAL MARKETS

Renewed confidence in a Sino-U.S. trade deal after talks between the countries helped lift most Asian stocks on Tuesday, as did fresh vaccine hopes for a coronavirus vaccine, which boosted broader sentiment.

WALL STREET

The S&P 500 and the Nasdaq reached new record closing highs on Monday as optimism over potential medical advances in the war against the coronavirus pandemic pushed all three major U.S. stock indexes higher.

GOLD ( XAU= )

Gold edged higher on Tuesday as the dollar dipped, with investors awaiting U.S. Federal Reserve Chairman Jerome Powell's speech later this week, while a rally in equity markets limited bullion's advance.

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