May 31, 2019 / 5:57 AM / 5 months ago

South African Markets - Factors to watch on May 31

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday.

ECONOMIC EVENTS

- South Africa-Money Supply-M3 Money Supply. 0600 GMT

- South Africa-Trade balance-Trade Balance. 1200 GMT

COMPANIES

- Full Year 2019 Tongaat Hulett Earnings Release.

- Full Year 2019 Mine Restoration Investments Earnings Release.

- Full Year 2019 Adrenna Property Group Earnings Release.

- Half Year 2019 Group Five Earnings Release.

- Full Year 2019 Taste Holdings Earnings Release.

SOUTH AFRICAN MARKETS

The South African rand weakened late on Thursday, giving back gains after President Cyril Ramaphosa’s new cabinet retained familiar faces in key positions, including Tito Mboweni as finance minister.

GLOBAL MARKETS

U.S. stock futures slid and sovereign bonds surged on Friday as investors feared President Donald Trump’s shock threat of tariffs on Mexico risked tipping the United States, and maybe the whole world, into recession.

WALL STREET

U.S. stocks showed signs of stabilizing on Thursday, but gains were kept in check by conflicting comments on trade talks from President Donald Trump and Beijing that reinforced concerns about a potentially lengthy battle harming global growth.

GOLD

Gold prices rose on Friday, heading towards their first monthly gain since January on increased safe-haven demand, after U.S. President Donald Trump vowed to levy tariffs on all Mexican imports, ratcheting up concerns of a global economic slowdown.

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

- Standard Bank AGM votes down climate change resolution.

- State pension fund to sue Ayo for lost billions

BUSINESS REPORT

- Nampak suspends dividends.

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