The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.
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PRETORIA - South African Reserve Bank releases monthly business cycle indicators. 0700 GMT
PRETORIA - South Africa’s Treasury auctions 2.35 billion rand worth of 2035, 2044 and 2048 government bonds. 0900 GMT
South Africa’s rand softened on Monday as investors limited bets ahead of an expected interest rate hike by the central bank later in the week. Stocks also ended weaker, dragged down by the resources and platinum sectors as global equities buckled under pressure from falling oil prices.
Asian shares retreated and oil prices resumed their descent on Tuesday as investors took profits on rebounds over the last two days as fears of a global economic slowdown showed no sign of abating.
Wall Street sold off on Monday, pulled lower by further weakness in oil prices as energy shares led declines, with major indexes retreating after last week’s strong gains.
Gold climbed to a two-week high on Tuesday as falling equities burnished bullion’s safe-haven draw, and the dollar also came under pressure as the Federal Reserve meets against a backdrop of a slowing global economy.
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Some of the main stories out in the South African press:
- ANC Lekgotla to get report on economy.
- Amplats writes off 30 percent of value. (Compiled by Ed Stoddard)