June 30, 2020 / 5:30 AM / 9 days ago

South African Markets - Factors to watch on June 30

JOHANNESBURG, June 30 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency moves may affect South African markets on Tuesday.

ECONOMIC EVENTS

Weekly bond auction

First-quarter GDP data

Trade data

Budget data

COMPANIES

Comair business rescue plan due

Distell investor update

SOUTH AFRICAN MARKETS

The South African rand steadied against the dollar on Monday as the spread of the coronavirus at home and around the world dampened optimism over a swift economic recovery.

GLOBAL MARKETS

Asian shares rose on Tuesday after data showed China’s manufacturing sector grew more than expected in June, a hopeful sign for a global economy still struggling to recover from the sweeping impact of the coronavirus crisis.

WALL STREET

Wall Street stocks closed higher on Monday and the S&P 500 was poised for its biggest quarterly percentage gain since 1998 as investors hoped for a stimulus-backed economic rebound, while a surge in Boeing shares helped boost the blue-chip Dow.

GOLD

Gold held close to a near eight-year peak on Tuesday, en route to its best quarter in more than four years, as worries over rising cases of the novel coronavirus and its economic fallout boosted safe-haven demand.

EMERGING MARKETS

For the top emerging markets news, double click on

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Some of the main stories out in the South African press:

BUSINESS DAY

- Prosus has 120 bln rand war chest to keep on growing

- Reserve Bank will ensure stability, says Kganyago

- Mboweni says income and corporate tax unlikely to rise

Compiled by Alexander Winning

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