JOHANNESBURG, Aug 26 (Reuters) – The following scheduled economic events, company announcement, equity and currency market moves may affect South African markets on Monday.
ECONOMIC EVENTS
Foreigners’ trading in South African bonds and equities
South African weekly T-bill auction
COMPANIES
South Africa’s state utility Eskom to brief media on summer outlook
SOUTH AFRICAN MARKETS
The South African rand jumped on Friday, after comments by Federal Reserve Chair Jerome Powell signalled an interest rate cut next month.
On the Johannesburg Stock exchange, the blue-chip Top-40 index closed up 0.73%.
GLOBAL MARKETS
Major share markets turned hesitant in Asia on Monday, while the dollar and bond yields were on the wane ahead of inflation data that investors hope will pave the way for rate cuts in the United States and Europe.
WALL STREET
U.S. stocks rallied on Friday as dovish remarks from U.S. Federal Reserve Chair Jerome Powell solidified expectations that the central bank will cut its key policy rate in September.
GOLD
Gold prices held ground on Monday, buoyed by a weaker dollar and Treasury yields after U.S. Federal Reserve Chair Jerome Powell’s dovish remarks cemented expectations for a September rate cut.
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Some of the main stories out in the South African press:
BUSINESS DAY
– Steinhoff 2.0 takes Reserve Bank to court
– Transnet asks Eskom for secret of its turnaround
FIN 24
– Turkcell vs MTN: Billion-dollar lawsuit over Iranian licence heads to appeals court
(Compiled by Bhargav Acharya)
