South African Markets - Factors to watch on Sept. 2

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on Sept. 2
Credit: © Reuters.

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

ECONOMIC EVENTS

- South Africa's finance minister Tito Mboweni briefs reporters on WEF Africa summit from 0800 GMT.

- South Africa's seasonally adjusted Absa Purchasing Managers' Index (PMI) for August to be released at 0900 GMT.

COMPANIES

- Old Mutual OMUJ.J half-year adjusted HEPS 109.1 cents, to buy back shares worth up to 2.4 billion rand. Bidvest BVTJ.J reports full-year HEPS of 1,352.1 cents. RCL Foods RCLJ.J says full-year revenue up 5.5%. AFRICAN MARKETS

South Africa's rand firmed against the U.S. dollar in late trade on Friday, as hopes for a rapprochement on trade between Beijing and Washington calmed investors' nerves.

The Johannesburg All-share index .JALSH gained 1.56% to 55,259 points, while the benchmark Top-40 index .JTOPI rose 1.56% to 49,320 points, to levels last seen on Aug. 13. .J ZAR/

GLOBAL MARKETS

Global stock prices fell on Monday after the United States and China imposed new tariffs on each other's goods, reinforcing investors' worries over slowing global growth. MKTS/GLOB

WALL STREET

Wall Street ended the week with a lackluster session on Friday as investors were cautious ahead of a holiday weekend in which a fresh round of U.S. tariffs on Chinese imports were due to be levied. .N

GOLD XAU=

Gold prices rose on Monday, as safe-haven demand surged after the United States and China launched fresh tit-for-tat tariffs on each others goods, escalating a prolonged trade war and adding to fears of a global economic slowdown. 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

- Steinhoff shareholders strengthen board's grip

BUSINESS REPORT

- NHI expenditure will be 450 bln rand, projects Fitch

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