The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.
- South African reserve bank publishes business cycle indicators for January. 0700 GMT
- Assore half-year 2019 earnings release.
- Bowler Metcalf half-year 2019 earnings release.
- Shoprite Holdings half-year 2019 earnings release.
South Africa’s rand rose on Monday, holding onto its post-budget gains, after U.S. President Donald Trump extended a deadline for China and the United States to reach a trade agreement.
Stocks weakened as rand-hedges weighed on the market.
Asian shares lost steam on Tuesday after scaling a five-month high as investors waited to see if Washington and Beijing can clinch a trade deal, while the pound advanced on hopes UK Prime Minister Theresa May will delay a Brexit deadline.
Wall Street’s three major indexes ended higher on Monday but well below the session’s highs after President Donald Trump said he would delay a planned hike in tariffs on Chinese imports.
Palladium hit a record high on Tuesday, surging above $1,550 as a threatened strike by South African mineworkers added to supply risk concerns in an already tight market, while gold prices edged up on a subdued dollar.
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Some of the main stories out in the South African press:
- Directors of state pension fund manager PIC ordered to recoup 4.3 billion rand ($311 million) investment in Ayo Technology.
- African Bank to launch full-service bank.
- Construction firm Aveng says local infrastructure market in crisis.
$1 = 13.8445 rand