South African Markets - Factors to watch on May 7

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

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

ECONOMIC EVENTS

- South Africa publishes reserves data for April at 0600 GMT.

- Ratings agency Moody's is scheduled to review South Africa's sovereign credit rating.

SOUTH AFRICAN MARKETS

The South African rand rallied on Thursday as the governing African National Congress (ANC) stood by a decision to suspend one of its top officials charged with corruption and global risk appetite was strong.

Johannesburg-listed stocks rose slightly, with the Top-40 Index .JTOPI closing 0.28% higher at 61,706 points and the All-Share Index .JALSH up 0.39% at 67,609 points.

GLOBAL MARKETS

Global stocks headed for their first weekly gain in three amid a surge in commodity prices, while traders braced for a key U.S. jobs report later on Friday that could provide clues on when the Federal Reserve will ease back on monetary stimulus. 

WALL STREET

The Dow Jones Industrial Average .DJI closed at a record high on Thursday, bolstered by an upbeat weekly jobless claims report, while vaccine makers dipped after U.S. President Joe Biden backed plans to waive patents on COVID-19 shots. 

GOLD

Gold prices on Friday hovered near a 2-1/2-month high and were on track for their best week in five months, aided by a weaker dollar and a pullback in Treasury yields as investors cautiously await U.S. non-farm payrolls report due later in the day. 

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100