South African Markets - Factors to watch on May 2

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on May 2
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

- South Africa's April Total New Vehicle Sales. 1200 GMT

COMPANIES

- Group Five GRFJ.J Half Year 2019 Earnings Release.

- Montauk Holdings MNKJ.J Full Year 2019 Earnings Release.

- GAIA Infrastructure Capital GAIJ.J Full Year 2019 Earnings Release.

SOUTH AFRICAN MARKETS

South Africa's rand steadied in late afternoon trade on Tuesday, recovering from losses earlier in the session, after news that South Africa's trade surplus had grown in March.

Stocks fell, in line with global equities, after weak Chinese business surveys doused appetite for risk. .J ZAR/

GLOBAL MARKETS

Asian markets marked time on Thursday with two major centres - Japan and China - shut for holidays while the dollar held on to overnight gains after the U.S. central bank poured cold water on rate cut expectations. MKTS/GLOB

WALL STREET

U.S. stocks ended lower on Wednesday and the S&P 500 snapped a three-day streak of record high closes as comments from Federal Reserve Chairman Jerome Powell appeared to dampen hopes the central bank could move later this year to cut interest rates. .N

GOLD XAU=

Gold on Thursday fell to its lowest in a little over one week, after comments from U.S. Federal Reserve Chairman Jerome Powell dashed hopes of a near-term rate cut, boosting the dollar and treasury yields. 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

- New boss at revenue service Sars remains on Shoprite SHPJ.J board.

- Edcon restructuring deal approved by Competition Commission

BUSINESS REPORT

- Nedbank's NEDJ.J new green bonds oversubscribed.

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