JOHANNESBURG, Sept 3 (Reuters) – The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Tuesday.

ECONOMIC EVENTS

Statistics South Africa will release GDP figures for the second quarter of 2024.

South Africa’s government will hold its weekly auction of long-term bonds.

COMPANIES

South Africa’s biggest vehicle dealership Motus Holdings posted a 28% decline in annual profit.

South Africa’s biggest grocery retailer Shoprite will report its full-year results.

South Africa-based pharmaceutical manufacturer Aspen Pharmacare will report its full-year results.

SOUTH AFRICAN MARKETS

The South African rand was steady on Monday ahead of the release of second-quarter gross domestic product (GDP) data.

On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed 0.33% lower.

GLOBAL MARKETS

Bond yields drifted higher on Tuesday, while currencies and Asia’s stock markets steadied as investors waited on a raft of data to determine how deeply the U.S. can cut interest rates.

WALL STREET

Wall Street stocks rose and the Dow scored a second consecutive all-time closing high on Friday, with Tesla and Amazon climbing after fresh U.S. economic data raised expectations that the Federal Reserve will cut interest rates modestly in September.

GOLD

Gold prices fell on Tuesday, while investors awaited a slew of U.S. economic data to gauge the size of the Federal Reserve’s expected interest rate cut this month.

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

BUSINESS DAY

– Transnet on track to turn a profit in 2025

– New-car sales gloomy as cash-strapped buyers await rate cut

(Compiled by Tannur Anders)