South African Markets - Factors to watch on May 19

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on May 19
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

- February mining production release by Stats SA. 0930 GMT

- February manufacturing production release by Stats SA. 1100 GMT

COMPANIES

- Half Year 2020 Netcare Ltd NTCJ.J Earnings Release.

- Half Year 2020 Pioneer Food Group Ltd Earnings Release.

- Q4 2020 Datatec Ltd DTCJ.J Earnings Release.

SOUTH AFRICAN MARKETS

South Africa's rand strengthened on Monday as demand for emerging-market currencies was boosted by further easing of lockdown regulations globally, while a rally in metals prices also helped commodity-linked currencies.

The stock market firmed up following cues from Asia, where shares rose on hopes of an increase in demand due to eased restrictions and a rise in crude oil prices. .J ZAR/

GLOBAL MARKETS

Asian shares jumped on Tuesday and oil extended gains on optimism the global economy would recover quickly following a successful early-stage trial of a coronavirus vaccine, while the euro hovered near a two-week top. MKTS/GLOB

WALL STREET

U.S. stocks jumped on Monday, and the S&P 500 closed at a 10-week high, on encouraging early-stage data for a potential coronavirus vaccine and on the promise of more stimulus to lift an economy beaten down by the pandemic. .N

GOLD XAU=

Gold rose on Tuesday, underpinned by Sino-U.S. trade friction and global stimulus although promising early-stage data for a potential COVID-19 vaccine spurred some risk appetite, keeping prices below a more than 7-year high hit in the last session. 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

- Steinhoff SNHJ.J chair Heather Sonn was "not aware of need to disclose transaction".

- Balwin BWNJ.J on track to deliver 5,200 apartments despite Covid-19.

BUSINESS REPORT

- Platinum supply set to lose momentum this year

- City of Cape Town's controversial by-law process during lockdown widely opposed.

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