JOHANNESBURG, June 30 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency moves may affect South African markets on Tuesday.
Weekly bond auction
First-quarter GDP data
Comair business rescue plan due
Distell investor update
SOUTH AFRICAN MARKETS
The South African rand steadied against the dollar on Monday as the spread of the coronavirus at home and around the world dampened optimism over a swift economic recovery.
Asian shares rose on Tuesday after data showed China’s manufacturing sector grew more than expected in June, a hopeful sign for a global economy still struggling to recover from the sweeping impact of the coronavirus crisis.
Wall Street stocks closed higher on Monday and the S&P 500 was poised for its biggest quarterly percentage gain since 1998 as investors hoped for a stimulus-backed economic rebound, while a surge in Boeing shares helped boost the blue-chip Dow.
Gold held close to a near eight-year peak on Tuesday, en route to its best quarter in more than four years, as worries over rising cases of the novel coronavirus and its economic fallout boosted safe-haven demand.
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Some of the main stories out in the South African press:
– Prosus has 120 bln rand war chest to keep on growing
– Reserve Bank will ensure stability, says Kganyago
– Mboweni says income and corporate tax unlikely to rise
(Compiled by Alexander Winning)