South African Markets - Factors to watch on May 29
JOHANNESBURG, May 29 (Reuters) -The following equity and currency market moves may affect South African markets on Monday.
SOUTH AFRICAN MARKETS
The South African rand made a strong recovery on Friday from a record low struck overnight after a central bank interest rate hike failed to impress some traders and economists. .JZAR/
GLOBAL MARKETS
Asian shares and U.S. stock futures rose on Monday, thanks to a weekend debt-ceiling deal by U.S. President Joe Biden and House Speaker Kevin McCarthy, ending a protracted stalemate and providing relief to investors. MKTS/GLOB
WALL STREET
U.S. stocks finished sharply higher on Friday as talks on raising the U.S. debt ceiling progressed, while chip stocks surged for a second straight day on optimism about artificial intelligence. .N
GOLD
Gold prices edged lower on Monday as a tentative deal sealed over the weekend to suspend the U.S. debt ceiling coupled with jitters around higher-for-longer interest rates dampened demand for the non-yielding metal. 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
- What keeps Godongwana awake at night
- Transnet seeks state help amid surge in sabotage
Reporting by Alexander Winning
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