The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Thursday.

ECONOMIC EVENTS

– March new vehicle sales. 1200 GMT

– Absa purchasing manager’s index. 0900 GMT

COMPANIES

– Half Year 2021 Ascendis Health Ltd Earnings Call.

SOUTH AFRICAN MARKETS

South Africa’s rand rallied to its best in a week on Wednesday, after data showed the trade surplus widened in February on increased export activity.

The benchmark FTSE/JSE all-share index .JALSH slipped by 1.2% to close at 66,485 points while the bluechip FTSE/JSE top-40 companies’ index .JTOPI ended down 1.15% to 60,881 points.

GLOBAL MARKETS

Stocks crept higher on Thursday following their weakest quarter in a year, while higher Treasury yields supported the dollar, as investors parsed the details of a $2 trillion U.S. government spending plan and hoped for strong jobs data later in the week.

WALL STREET

The S&P 500 and Nasdaq rose on Wednesday, boosted by gains in technology shares, and the three major Wall Street indexes registered their fourth straight quarterly rise as investors positioned themselves for President Joe Biden’s massive infrastructure plan.

GOLD

Gold bounced back on Thursday from a three-week low hit in the previous session, as the U.S. dollar and Treasury yields eased, while President Joe Biden’s $2 trillion-plus jobs plan further supported the metal’s appeal as a hedge against inflation.

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

– Novavax to be evaluated for SA use.

– Old constraints to stall SA’s recovery even as GDP rebounds in 2021, World Bank says.

FIN 24

– South Africa commits to reducing carbon emissions by 17% in 2025.

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