South African Markets - Factors to watch on May 8

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on May 8

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

ECONOMIC EVENTS

Central bank publishes April foreign reserves data. 0600 GMT

South Africa's treasury holds its weekly auction of inflation-linked bonds and treasury bills.

SOUTH AFRICAN MARKETS

South Africa's rand jumped on Thursday as weak business confidence data was outweighed by big surprise move up in China's April exports that also helped its commodity currency peers.

The Johannesburg All-Share index .JALSH rose 0.38%, while the Top-40 index .JTOPI closed 0.31% firmer. .J ZAR/

GLOBAL MARKETS

Asian shares rose on Friday as investors focused on talks between U.S. and Chinese trade officials and solid corporate earnings rather than the looming release of data expected to show the worst U.S. unemployment rate in more than 70 years. MKTS/GLOB

WALL STREET

Wall Street's indexes climbed on Thursday, with the Nasdaq erasing losses for 2020, following a clutch of upbeat earnings reports led by PayPal as investors looked past more weak jobs data caused by the coronavirus-induced economic downturn. .N

GOLD XAU=

Gold on Friday was hovering near a two-week high hit in the previous session as investors awaited the U.S. jobs report to gauge the health of the economy after grim economic indicators raised the prospects of more rate cuts by the Federal Reserve. GOL/

EMERGING MARKETS

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