The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday.
- Vodacom reports full-year results.
- Calgro M3 Holdings releases full-year results.
- Raubex Group reports full-year earnings.
- Astral Foods reports interim results.
South Africa’s rand strengthened more than 1% on Friday on expectations of political continuity, as the governing African National Congress (ANC) headed for a national election victory.
Stocks also rose on the election news, tracking gains in other emerging markets too.
U.S. stock futures and Asian shares fell on Monday on growing anxiety over whether the United States and China will be able to salvage a trade deal, after Washington sharply hiked tariffs and Beijing vowed to retaliate.
Prospects for a drawn out trade war between the United States and China sent S&P 500 futures sharply lower as trading resumed on Sunday, after Washington demanded concrete changes to Chinese law and Beijing said it would not swallow any “bitter fruit” that harmed its interests.
Gold prices dipped on Monday as Sino-U.S. trade tensions and uncertainty over a deal weighed on yuan, making the bullion expensive for buyers in world’s largest consumer - China.
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Some of the main stories out in the South African press:
- Ramaphosa opts for strong advisory unit
- The real work starts now, says the president
- Election win puts the focus on Ramaphosa (Compiled by Olivia Kumwenda-Mtambo)