June 18, 2019 / 5:49 AM / 3 months ago

South African Markets - Factors to watch on June 18

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

ECONOMIC EVENTS

Exchange operator JSE Ltd releases data on foreigners’ buying and selling of South African bonds and stocks during the previous week.

COMPANIES

Steinhoff publishes 2018 results

Financial services group Alexander Forbes will report its full-year results

MultiChoice to report full-year results

SOUTH AFRICAN MARKETS

South Africa’s rand firmed on Friday as domestic political concerns eased, with the focus of investors shifting to inflation data and the U.S. central bank meeting next week.

On the bourse, the benchmark JSE Top-40 Index fell 0.81% to 52,166 points while the broader All-Share Index weakened 0.86%, closing at 58,193 points.

GLOBAL MARKETS

Investor caution ahead of the Federal Reserve’s interest rate meeting capped Asian stocks on Tuesday, while crude oil prices retreated as global growth worries overshadowed supply concerns stemming from recent Middle East tensions.

WALL STREET

Wall Street edged higher on Monday, supported by Facebook, Amazon and Apple, as investors awaited a key Federal Reserve meeting that is expected to lay the groundwork for an interest rate cut later this year.

GOLD

Gold prices edged higher on Tuesday as the dollar pulled back from multi-week highs ahead of the U.S. Federal Reserve’s two-day monetary policy meeting.

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

- Battling Lonmin ‘went right to the edge’

BUSINESS REPORT

- Amcu in ‘crazy demand’ for 17,000 rand salaries

- Restated results impact Steinhoff

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