South African Markets - Factors to watch on July 1
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JOHANNESBURG, July 1 (Reuters) – The following scheduled economic events, company announcement, equity and currency market moves may affect South African markets on Monday.
Foreigners’ trading in South African bonds and equities
South Africa June manufacturing sector PMI
South African Treasury bill auction
Vehicle sales data
South African food producer RCL Foods lists its poultry business, Rainbow Chicken
The South African rand rallied on Friday on optimism that the Democratic Alliance and African National Congress would reach an agreement over cabinet positions, a day after local media reported a major disagreement between the parties.
On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed about 1% higher.
GLOBAL MARKETSUncertainty over the U.S. rates outlook kept Asian shares steady on Monday, while the euro rose after the first-round voting in France’s shock snap election was won by the far-right, albeit with a smaller share than some polls had projected.
U.S. stocks ended weaker on Friday after an early rally fizzled as investors digested in-line inflation data and weighed political uncertainty after the U.S. presidential debate.
GOLDGold prices held steady on Monday after data showed U.S. inflation subsided, bolstering hopes that the Federal Reserve will start cutting interest rates this year.
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Some of the main stories out in the South African press:
– Sars puts tax dispute with Kumba’s flagship mine on ice
– Santam’s procurement pick divides panel-beating industry
– ‘We are being allowed to reset’: Hope and caution as bloated, reconfigured GNU Cabinet announced
(Compiled by Bhargav Acharya)
