The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.
- Business Confidence Index for June 0930 GMT
- Rand Merchant Investment Holdings FY results
- Woolworths Q4 trading statement
South Africa’s rand powered to its firmest in three weeks on Monday as risk demand globally was soothed by a sliding dollar, while the bourse ended higher with the stronger currency lifting commodity stocks.
Asian shares rallied for a third session on Tuesday as hopes for upbeat corporate earnings buoyed Wall Street, while several high-profile resignations from Britain’s government kept sterling on the defensive.
U.S. stocks rose on Monday, giving the Dow and S&P 500 their biggest gains in more than a month, as bank shares jumped ahead of earnings reports later this week.
Gold prices edged up on Tuesday, after hitting a two-week high in the previous session, amid political uncertainty over Brexit and as the U.S. dollar held steady.
Oil prices rose on Tuesday on escalating concerns over potential supply shortages, with Brent crude leading the way as hundreds of oil workers in Norway were set to strike later in the day.
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Some of the main stories out in the South African press:
- McKinsey stands firm on SOE pricing model
- Gupta associate is Zuma’s new lawyer
- Central bank slams law-breaking municipalities as Nedbank steps in
- Tsogo Sun in 23 billion rand ($1.71 billion) HPF deal ($1 = 13.4204 rand)