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The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Monday.
ECONOMIC EVENTS
South Africa to release data on foreigners’ buying and selling of bonds and stocks.
South Africa business confidence data.
New vehicle sales data.
South Africa’s justice and agriculture ministries to brief reporters on the Land Court Bill and other land reform initiatives.
COMPANIES
South African food producer RCL Foods on Monday reported a 12% increase in half-year profit.
SOUTH AFRICAN MARKETS
South Africa’s rand firmed on Friday in a recovery rally after a jump in U.S. treasury yields triggered a sharp slide in the previous session to a three-week low.
The Johannesburg All-share index, which had risen for the last two sessions, fell 1.91% to 66,194 points, while the Top-40 index ended 2% weaker at 60,820 points.
GLOBAL MARKETS
Asian shares rallied on Monday as some semblance of calm returned to bond markets after last week’s wild ride, while progress in the huge U.S. stimulus package underpinned optimism about the global economy and sent oil prices higher.
WALL STREET
The tech-heavy Nasdaq index rallied in choppy trading on Friday, even as sentiment remained fragile after the index’s worst performance in four months the day before as fears of rising inflation kept U.S. bond yields near a one-year high.
GOLD
Gold prices rose 1% on Monday, recovering from a more than eight-month low touched in the previous session, as the dollar weakened and the United States passed a massive $1.9 trillion stimulus package.
EMERGING MARKETS
For the top emerging markets news, double click on
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Some of the main stories out in the South African press:
BUSINESS DAY
– J&J will now deliver 11-million vaccines.
