JOHANNESBURG, June 18 (Reuters) – The following scheduled economic events, company announcement, equity and currency market moves may affect South African markets on Tuesday.
ECONOMIC EVENTS
The Johannesburg Stock Exchange will release data on foreigners’ buying and selling of bonds and stocks during the previous week.
South Africa’s government will hold its weekly auction of long-term bonds.
COMPANIES
Telkom, South Africa’s third-biggest telecom company, said on Tuesday its headline earnings jumped 201% in the full-year to March.
SOUTH AFRICAN MARKETS
South Africa’s rand gained on Friday after the Democratic Alliance said a deal had been struck with the African National Congress to form a unity government.
On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed around 0.7% stronger. South Africa’s benchmark 2030 government bond was flat at 10.125%.
GLOBAL MARKETS
Asian stocks tracked Wall Street higher on Tuesday ahead of a chorus of Federal Reserve officials due to speak later in the day, while the Australian dollar held steady after its central bank offered few surprises in its policy decision.
WALL STREET
The S&P 500 and Nasdaq scored record closing highs on Monday as technology shares rallied on enthusiasm over artificial intelligence ahead of this week’s economic data and Federal Reserve officials’ speeches that could shed light on monetary policy.
GOLD
Gold prices edged higher on Tuesday as Treasury yields eased, with market participants awaiting U.S. data and comments from Federal Reserve officials for more clarity on the central bank’s roadmap for interest rate cuts.
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Some of the main stories out in the South African press:
BUSINESS DAY
– Surge of optimism boosts stocks as cabinet haggling begins
(Compiled by Tannur Anders)
