The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Tuesday.
– February credit and money supply figures published by central bank. 0600 GMT
– February budget balance. 1200 GMT
– No major releases.
SOUTH AFRICAN MARKETS
– South Africa’s rand firmed on Monday, reversing early losses alongside other emerging market currencies as an improving U.S. economic outlook lifted demand for the dollar.
The benchmark all-share index .JALSH was up 0.38% to 67,089 points at day’s close and the bluechip index JSE top 40 .JTOPI ended up 0.33% to 61,444 points.
Asian shares were mixed early Tuesday as global investors shook off worries about a hedge fund default that roiled global banking stocks overnight, while rekindled concerns about inflation pushed bond yields higher.
The S&P 500 ended just slightly in the red on Monday, with bank shares falling amid warnings of potential losses from a hedge fund’s default on margin calls, while optimism over the economy limited the day’s declines.
Gold prices slipped on Tuesday to their lowest in more than two weeks, weighed down by a firm U.S. dollar and Treasury yields as expectations of a swift economic turnaround grew with vaccination rates gaining traction.
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Some of the main stories out in the South African press:
– Zimbabwe to issue electronic Covid-19 cards.
– ANC members charged with wrongdoing have 30 days to step aside or face suspension, Ramaphosa says.
– Of all G20 countries, SA is most reliant on coal for power – global review.
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