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.


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

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


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 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. 


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 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. 

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