South African Markets - Factors to watch on Feb. 26

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on Feb. 26
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

- South African reserve bank publishes business cycle indicators for January. 0700 GMT

COMPANIES

- Assore ASRJ.J half-year 2019 earnings release.

- Bowler Metcalf BCFJ.J half-year 2019 earnings release.

- Shoprite Holdings SHPJ.J half-year 2019 earnings release.

SOUTH AFRICAN MARKETS

South Africa's rand rose on Monday, holding onto its post-budget gains, after U.S. President Donald Trump extended a deadline for China and the United States to reach a trade agreement.

Stocks weakened as rand-hedges weighed on the market. .J ZAR/

GLOBAL MARKETS

Asian shares lost steam on Tuesday after scaling a five-month high as investors waited to see if Washington and Beijing can clinch a trade deal, while the pound advanced on hopes UK Prime Minister Theresa May will delay a Brexit deadline. MKTS/GLOB

WALL STREET

Wall Street's three major indexes ended higher on Monday but well below the session's highs after President Donald Trump said he would delay a planned hike in tariffs on Chinese imports. .N

GOLD XAU=

Palladium hit a record high on Tuesday, surging above $1,550 as a threatened strike by South African mineworkers added to supply risk concerns in an already tight market, while gold prices edged up on a subdued dollar. GOL/

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

BUSINESS DAY

- Directors of state pension fund manager PIC ordered to recoup 4.3 billion rand ($311 million) investment in Ayo Technology AYOJ.J .

- African Bank to launch full-service bank.

BUSINESS REPORT

- Construction firm Aveng AEGJ.J says local infrastructure market in crisis.

($1 = 13.8445 rand)

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