The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday.
- Bidvest Group says half-year headline earnings per share up 9.6 percent to 629.1 cents per share.
- RCL Foods reports half-year headline earnings per share of 54.8 cents.
- Stadio Holdings reports full-year results.
The South African rand extended losses against a stronger dollar on Friday, after breaching the 14.00 to the dollar mark in the previous session, as doubts over the fate of a U.S.-China trade deal curbed appetite for risk.
Stocks got a boost from relatively upbeat results from property firm Hyprop Investment Ltd, drinks maker Distell Group and African Rainbow Minerals .
Asian shares started the week on the front foot on signs the United States and China were close to striking a tariff deal to end their protracted trade war while the dollar eased as traders wagered Federal Reserve policy would remain accommodative.
The S&P 500 and the Dow Jones Industrial Average snapped a three-day run of losses on Friday as optimism about the prospects for a U.S.-China trade agreement countered downbeat U.S. and China manufacturing data.
Gold prices edged higher on Monday, after falling below the critical $1,300 level to their lowest since Jan. 25 in the previous session, as the dollar softened on prospects of a trade deal between China and the United States.
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Some of the main stories out in the South African press:
- NPA says it is ready to face Zuma in court
- Edcon CEO: focus is now on fixing the business
- Alexander Forbes is facing a ‘de facto’ takeover (Compiled by Olivia Kumwenda-Mtambo)