South African Markets - Factors to watch on September 8

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

Statistics South Africa to publish GDP numbers for the second quarter of 2020.

Ratings agency Fitch holds its Global Sovereign Conference with a focus on Angola, Nigeria and South Africa.

Weekly bond auction by South Africa's Treasury.

COMPANIES

South African supermarket chain Shoprite Holdings ( SHPJ.J ) reported a 2.5% rise in full-year earnings on Tuesday, helped by panic buying just before coronavirus lockdown.

AFRICAN MARKETS

South Africa's rand firmed on Friday, supported by the lure of higher yields and a slide in the dollar after jobs growth slowed in the United States.

The FTSE/JSE all-share index (.JALSH) continued its losing streak, falling 1.2% to 53,879 points on Friday and ending the week down almost 4% from the last week's close.

GLOBAL MARKETS

Asian shares and U.S. stock futures regained some footing on Tuesday following a small bounce in European markets as investors looked to whether high-flying U.S. tech shares could recover from their recent rout.

WALL STREET

The Nasdaq closed lower on Friday though well above its session low as selling eased late in the day after investors dumped heavyweight technology stocks due to concerns about high valuations and a patchy economic recovery. 

GOLD ( XAU= )

Gold prices slipped on Tuesday, weighed down by a stronger U.S. dollar, but the safe-haven metal's decline was limited by growing fears over the global economic recovery from the coronavirus crisis.

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  • Thendos Carter @Thendos Carter
    When are we expecting gold to rise back to 2000
    Like 0
  • Nonhlanhla Mahlangu @Nonhlanhla Mahlangu
    We thank you for the updates 🙏let's make, I'll spread the words to the youth about Luno, it's aGood investment and it is straight forward 🤟
    Like 1
  • Prince Mutshekwa @Prince Mutshekwa
    Thanks for all these updates. Eye opening indeed for the global happenings in the markets.
    Like 4