The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Tuesday.
– South Africa’s central bank publishes its composite leading business cycle indicator at 0700 GMT.
– South Africa’s Treasury auctions long-term bond notes.
SOUTH AFRICAN MARKETS
South Africa’s rand and local stocks dropped on Monday, as concerns about the rapid global spread of the Delta coronavirus variant drove investors to seek comfort in the U.S. dollar and precious metal prices fell.
Asian stocks were down early on Tuesday as growing fears the spreading Delta variant of the coronavirus would harm the global economic recovery sent riskier assets, including oil, skidding sharply.
A surge in Delta variant infections sparked a broad sell-off on Wall Street on Monday as investors feared renewed COVID-19 shutdowns and a protracted economic recovery.
Gold prices rose on Tuesday, supported by a drop in U.S. bond yields and concerns over a relentless surge in Delta variant infections, although a stronger dollar kept bullion’s gains in check.
For the top emerging markets news, double click on (Compiled by Olivia Kumwenda-Mtambo)