South African Markets - Factors to watch on May 18

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on May 18
Credit: © Reuters.

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

ECONOMIC EVENTS

- No major releases.

COMPANIES

- No major results.

SOUTH AFRICAN MARKETS

South Africa's rand fell on Friday and ended lower on the week as fears about a resurgence of coronavirus infections hurt sentiment toward the emerging markets.

The stock market, however, was upbeat, bucking a largely declining trend on positive factory output data from China. .J ZAR/

GLOBAL MARKETS

Asian shares were led higher by S&P 500 futures on Monday and oil prices hit a five-week peak as countries' efforts to re-open their economies stirred hopes the world was nearer to emerging from recession. MKTS/GLOB

WALL STREET

Wall Street's three major indexes closed higher after swinging between gains and losses on Friday as investors weighed worries about Sino-U.S. trade relations and weaker-than-expected U.S. economic data against growing optimism that easing coronavirus restrictions would boost activity this month. .N

GOLD XAU=

Gold rose over 1% on Monday to its highest in more than seven years as dismal U.S. data underscored how badly the COVID-19 pandemic has damaged the world's top economy, while palladium soared over 9% on better-than-expected demand outlook. 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

- Business calls for quick move to level 2 as a matter of urgency.

- Gordhan's SAA truce on the rocks as business rescuers want to wind down

BUSINESS REPORT

- Dis-Chem DCPJ.J in agreement to acquire 100% of Baby City from its founder.

- Alcohol sales ban costs fiscus billions.

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