The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.
- Africa’s premier mining conference in Cape Town continues.
- ASTRAL FOODS reports lower Q1 operating profit, sees cost pressures ahead.
- SEA HARVEST offers to buy out minorities in its Australian unit Mareterram Ltd for 0.25 Australian dollars per share, valuing the company 38.6 million Australian dollars ($28.02 million).
- NAMPAK - shareholder meeting
South Africa’s rand eased on Monday as a strong dollar and U.S. Treasury yields holding recent gains put pressure on emerging market currencies, while stocks also edged lower.
Asian stocks extended gains on Tuesday as overnight strength on Wall Street and the Federal Reserve’s cautious turn underpinned appetite for riskier assets, while the dollar held firm on last week’s upbeat U.S. data.
Wall Street gained on Monday, with all three major indexes closing near session highs as sustained optimism on the prospects for U.S.-China trade relations propelled technology shares.
Gold prices on Tuesday held near one-week lows touched in the previous session, pressured by a firmer dollar and as investor appetite for riskier assets improved in the wake of strong U.S. economic data.
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Some of the main stories out in the South African press:
- Anglo CEO: Eskom is our biggest threat
- Clover suitor spells out plans
- Eskom’s loss balloons to 20.1 billion rand ($1.50 billion) ($1 = 13.3805 rand) ($1 = 1.3774 Australian dollars)