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South African Markets – Factors to watch on April 7

PUBLISHED: Wed, 07 Apr 2021 05:16:28 GMT

JOHANNESBURG, April 7 (Reuters) – The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Wednesday.

ECONOMIC EVENTS

– South Africa Business Confidence Index numbers

SOUTH AFRICAN MARKETS

South Africa’s rand edged firmer to a new five-week best on Tuesday, boosted by greater risk demand as U.S. treasuries slipped and global commodity prices rallied.

The Johannesburg Stock Exchange (JSE) extended its run of gains as positive growth indicators in the United States and China pumped momentum into shares globally.

GLOBAL MARKETS

A gauge of Asian shares climbed to three-week highs on Wednesday as investors eyed the upcoming earnings season for further signs of a global economic recovery, while the dollar slipped to a two-week low.

WALL STREET

The S&P 500 slipped on Tuesday but stayed near closing record highs posted in consecutive sessions, as investors weighed more strong U.S. economic data against nervousness about upcoming quarterly earnings reports.

GOLD

Gold prices fell on Wednesday, from a two-week high hit in the previous session, as an array of strong data from the United States and increased COVID-19 vaccinations lifted hopes of a quick economic recovery, weighing on the metal’s safe-haven appeal.

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

– Cement maker PPC shares crumble on news of JSE investigation

– Vodacom Group drops data prices to increase traffic volumes

(Compiled by Promit Mukherjee)

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