South African Markets - Factors to watch on July 2
JOHANNESBURG, July 2 (Reuters) -The following scheduled economic events, equity and currency market moves may affect South African markets on Tuesday.
ECONOMIC EVENTS
South Africa's government will hold its weekly auction of long-term bonds.
SOUTH AFRICAN MARKETS
South African assets gave up some gains on Monday as the initial optimism shown by the markets waned a day after President Cyril Ramaphosa formed a new cabinet.
On the Johannesburg Stock Exchange, the Top-40 index .JTOPI closed around 0.2% weaker. The country's benchmark 2030 government bond ZAR2030= rose, with the yield down 3 basis points at 9.955%..JZAR/
GLOBAL MARKETS
The U.S. dollar hovered near an almost 38-year high to the yen on Tuesday following a surge in Treasury yields as investors contemplated the potential for a second Donald Trump presidency.MKTS/GLOB
WALL STREET
Megacap growth stocks led by Apple and Tesla lifted the tech-heavy Nasdaq to a higher close on Monday, while the Dow and the S&P 500 also eked out slight gains in light pre-holiday trading..N
GOLD
Gold prices slipped on Tuesday as the U.S. dollar held firm, while investors awaited comments from Federal Reserve Chair Jerome Powell as well as the country's jobs data for further clues about the interest rate outlook.GOL/
EMERGING MARKETS
For the top emerging markets news, double click on nTOPEMRG
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Some of the main stories out in the South African press:
BUSINESS DAY
- Election outcome a boon for JSE and bonds
- Work visas high on new home affairs minister’s agenda
(Compiled by Tannur Anders)
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