May 7, 2019 / 5:39 AM / 18 days ago

South African Markets - Factors to watch on May 7

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

ECONOMIC EVENTS

South African Chamber of Commerce and Industry releases April business confidence at 0930 GMT.

COMPANIES

Retailer Steinhoff, engulfed in one of South Africa’s biggest corporate scandals, publishes its 2017 financial statements.

SOUTH AFRICAN MARKETS

The South African rand weakened on Monday as the country heads for national elections on Wednesday while worries over the trade war between the United States and China curbed emerging market currencies and shares.

GLOBAL MARKETS

Asian shares staggered up from five-week lows on Tuesday but remained fragile after U.S. President Donald Trump’s latest threat to raise tariffs on Chinese goods shocked financial markets and fueled worries that trade talks may be derailed.

WALL STREET

U.S. stocks fell on Monday after President Donald Trump pledged to raise tariffs on Chinese goods, though Wall Street finished well off its session lows as some investors saw Trump’s comments as a bargaining tactic and expressed confidence in an eventual trade agreement.

GOLD

Gold prices rose on Tuesday as U.S. President Donald Trump’s threat to hike tariffs on Chinese imports re-kindled trade tensions between the two countries and pushed investors to seek insurance in safe-haven assets.

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

- SA and Ramaphosa face crucial election

- GBK burns Famous Brands

BUSINESS REPORT

- Mkhwebane sets sights on horse racing

- Blue-chip companies back Ramaphosa (Compiled by Nqobile Dludla)

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