Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on June 09

The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Wednesday.

ECONOMIC EVENTS

The South African Chamber of Commerce and Industry’s publishes its business confidence index (BCI) for May.

SOUTH AFRICAN MARKETS

South Africa’s rand dipped slightly against the dollar on Tuesday, as a recovering dollar put the brakes on the currency’s recent rally despite better-than-expected economic growth data.

The FTSE/JSE benchmark all-share index closed up 0.1% to end at 67,645 points while the blue-chip index of top 40 companies ended up 0.11% to 61,452 points.

GLOBAL MARKETS

World stock prices held near record highs on Wednesday, while U.S. bond yields flirted with their lowest levels in a month, as investors bet the Federal Reserve is some way off from tapering its economic stimulus.

WALL STREET

Wall Street stocks struggled to eke out closing gains on Tuesday as a lack of clear market catalysts kept institutional investors on the sidelines, while retail traders fueled the ongoing meme stocks rally.

GOLD

Gold traded in a tight range on Wednesday as investors eyed more data on U.S. inflation and cues on monetary policy from the European Central Bank, while weaker bond yields offered some support to the metal.

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

– Mkhize stepping aside is in national interest, says ANC leadership

– Surprise GDP data shows economy is likely to maintain momentum

FIN 24

– Better GDP figures on the cards – but load shedding is still the albatross around SA’s neck.


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