South African Markets - Factors to watch on July 8
JOHANNESBURG, July 8 (Reuters) -The following scheduled economic events, equity and currency market moves may affect South African markets on Monday.
ECONOMIC EVENTS
South Africa's Johannesburg Stock Exchange will release data on foreigners' buying and selling of bonds and stocks during the previous week.
South Africa's government will hold its weekly auction for Treasury bills.
SOUTH AFRICAN MARKETS
South Africa's rand extended its gains against a weaker dollar on Friday, fuelled by expectations that the Federal Reserve will cut interest rates later this year.
On the stock market, the Top-40 .JTOPI index closed 0.35% higher. South Africa's benchmark 2030 government bond ZAR2030= was stronger, as the yield fell 2.5 basis points to 9.76%..JZAR/
GLOBAL MARKETS
Asian stocks inched higher on Monday as investors grew more confident about a September U.S. rate cut, while the euro grappled with political uncertainty as French elections pointed to a hung parliament.MKTS/GLOB
WALL STREET
Wall Street stock indexes closed firmer on Friday, with the tech-heavy Nasdaq and benchmark S&P 500 hitting record highs, as new data showing U.S. labour market weakness boosted expectations for interest rate cuts as early as September..N
GOLD
Gold prices slipped on Monday, as investors booked profits after bullion hit a more than one-month high in the previous session on rising bets of U.S. interest rate cuts in September.GOL/
EMERGING MARKETS
For the top emerging markets news, double click on nTOPEMRG
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Some of the main stories out in the South African press:
BUSINESS DAY
- SA faces tough times ahead amid global economic uncertainties
(Compiled by Tannur Anders)
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