South African Markets - Factors to watch on June 1

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on June 1
Credit: © Reuters.

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

ECONOMIC EVENTS

- Statistics South Africa releases first-quarter unemployment data.

- Department of trade and industry to publish May vehicles sales data.

- Ratings agency Fitch expected to publish ratings update.

COMPANIES

- Net 1 UEPS Technologies Inc UEPS.O says to continue to pursue Cell C stake acquisition. AFRICAN MARKETS

South Africa's rand weakened on Wednesday with a combination of mixed trade data and a looming interest rate hike in the United States keeping traders cautious.

Stocks were lower on the day with Barclays (LON: BARC ) Africa unit falling after the company said it had approval to sell off its stake in the locally listed entity. .J ZAR/

GLOBAL MARKETS

Sterling retreated on Thursday on fears that Prime Minister Theresa May could lose control of parliament in Britain's June 8 election, while conflicting signals on the health of China's manufacturing sector kept most Asian stock markets in check. MKTS/GLOB

WALL STREET

U.S. stocks were little changed on Wednesday as financials dropped after JPMorgan (NYSE: JPM ) and Bank of America (NYSE: BAC ) warned of revenue weakness, offsetting gains in defensive plays. .N

GOLD XAU=

Gold held steady on Thursday, after hitting a five-week high in the previous session, supported by geopolitical tensions and a weaker dollar, but expectations the U.S. Federal Reserve will hike interest rates this month weighed on prices. GOL/

EMERGING MARKETS

For the top emerging markets news, double click on - - -

Some of the main stories out in the South African press:

BUSINESS DAY

- Barclays plc to offload 22 pct of African holding

- Spar Switzerland fails to deliver on promise

BUSINESS REPORT

- Molefe's return to Eskom cut short

- PIC eyeing a bigger slice of the Barclays pie

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