(REUTERS) The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday.
KENYA – Interest rate decision expected.
NIGERIA – Consumer inflation data for June due.
South African Markets
South Africa’s rand extended its gains against a weak dollar on Friday, lifted by technical factors and comments by senior U.S. central bank officials about “gradual” tightening, which also helped ignite stocks.
Asian stocks set a fresh two-year high on Monday, boosted by stronger-than-expected economic growth in China and bets that lacklustre U.S. data will keep the Federal Reserve cautious about the pace of further policy tightening.
The Dow and S&P 500 hit record highs on Friday after weak economic data dulled prospects of more interest rate hikes this year.
Gold rose on Monday as investors sought higher returns in alternative asset classes as the outlook for further interest rate hikes in the United States dimmed following softer U.S. economic data last week that also pushed the dollar to multi-month lows.
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Some of the main stories out in the South African press:
– Eskom ‘pulls a fast one’ with Impulse
– Mining Charter’s delay significant, says chamber
– Delay of mining charter welcome
– Kumba’s earnings get a shot in the arm