South African Markets - Factors to watch on May 6

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on May 6

The following scheduled political events, equity and currency market moves may affect South African markets on Thursday.

POLITICAL EVENTS

- South African President Cyril Ramaphosa will answer questions from lawmakers in parliament.

SOUTH AFRICAN MARKETS

The South African rand gained on Wednesday afternoon, as the U.S. dollar eased off a more than two-week high hit earlier in the day and local media reported that the governing party had suspended one of its top officials, Ace Magashule.

The Johannesburg Stock Exchange's All-share index .JALSH closed up 1.77% at 67,346 points, and the blue-chip index .JTOPI rose 1.92% to 61,536 points.

GLOBAL MARKETS

Asian shares rose on Thursday and commodity prices held near multi-year highs as investors switched to cyclicals amid hopes of a strong economic recovery, while the Australian dollar fell after China said it would end economic dialogue with Canberra.

The Dow Jones Industrial Average ended at a record high on Wednesday, driven higher by energy and other economically sensitive sectors, while the Nasdaq closed in red as megacap growth stocks slipped. 

GOLD

Gold prices edged higher on Thursday as a dip in U.S. treasury yields offset pressure from a stronger dollar, while investors awaited U.S. non-farm payrolls data for April due later this week.

 

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