Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on May 18

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

ECONOMIC EVENTS

– Statistics South Africa to publish April CPI figures at 0800 GMT.

– Statistics South Africa to publish March retail sales data at 1100 GMT.

COMPANIES

– Nampak publishes its trading statement for the six months ended March 31.

– Transaction Capital publishes interim results.

– Indluplace Properties publishes half-year results.

SOUTH AFRICAN MARKETS

South Africa’s rand firmed on Tuesday, as a pullback in the U.S. dollar offered support despite continued power cuts that cloud the domestic economic growth outlook.

On the Johannesburg Stock Exchange (JSE), the All-Share index ended up 0.7% at 69,696 and the blue-chip index of top-40 companies closed up 0.85% at 63,027 points.

GLOBAL MARKETS

Asia’s stockmarkets struggled to carry recent gains into a fourth straight session on Wednesday and the U.S. dollar steadied, as nagging doubts about inflation and the drag from rate rises crept back in to the global growth outlook.

WALL STREET

Wall Street finished sharply higher on Tuesday, lifted by Apple, Tesla and other megacap growth stocks after strong retail sales in April eased worries about slowing economic growth.

GOLD

Gold prices fell on Wednesday as the dollar recovered slightly, piling pressure on greenback-priced bullion along with firm Treasury yields and an aggressive inflation stance by the U.S. Federal Reserve chief.

EMERGING MARKETS

For the top emerging markets news, double click on (Compiled by Olivia Kumwenda-Mtambo)


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