The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.
Exchange operator JSE Ltd releases data on foreigners’ buying and selling of South African bonds and stocks during the previous week.
Steinhoff publishes 2018 results
Financial services group Alexander Forbes will report its full-year results
MultiChoice to report full-year results
South Africa’s rand firmed on Friday as domestic political concerns eased, with the focus of investors shifting to inflation data and the U.S. central bank meeting next week.
On the bourse, the benchmark JSE Top-40 Index fell 0.81% to 52,166 points while the broader All-Share Index weakened 0.86%, closing at 58,193 points.
Investor caution ahead of the Federal Reserve’s interest rate meeting capped Asian stocks on Tuesday, while crude oil prices retreated as global growth worries overshadowed supply concerns stemming from recent Middle East tensions.
Wall Street edged higher on Monday, supported by Facebook, Amazon and Apple, as investors awaited a key Federal Reserve meeting that is expected to lay the groundwork for an interest rate cut later this year.
Gold prices edged higher on Tuesday as the dollar pulled back from multi-week highs ahead of the U.S. Federal Reserve’s two-day monetary policy meeting.
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Some of the main stories out in the South African press:
- Battling Lonmin ‘went right to the edge’
- Amcu in ‘crazy demand’ for 17,000 rand salaries
- Restated results impact Steinhoff