South #Africa #Markets – Factors to watch on June 6

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

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SOUTH AFRICA – Q1 2017 GDP data due.

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SOUTH AFRICAN MARKETS
South Africa’s rand gained more than one percent on Monday as improved global demand for riskier assets and relief following two credit ratings reprieves lifted the currency close to its firmest in two months. Stocks were flat on the day.

GLOBAL MARKETS
Escalating tensions in the Middle East, the impending testimony of the former FBI director, British elections and a European Central Bank meeting this week, all took their toll on Asian stocks, oil and the dollar on Tuesday.

WALL STREET
Stocks dipped on Wall Street on Monday as a drop in Apple partly offset gains in energy and financial stocks, some of the market’s worst-performing sectors so far this year.

GOLD
Gold touched its highest in more than six weeks on Tuesday as Asian stock markets and the U.S. dollar weakened ahead of a UK national election and a European Central Bank meeting scheduled for Thursday.

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Some of the main stories out in the South African press:

BUSINESS DAY
– South Africa consumers could face 20% electricity hike
– Tribunal gives Lewis club fees green light

BUSINESS REPORT
– Telkom revamps operations
– Eskom mulling options in Molefe court bid

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