South African Markets - Factors to watch on May 29

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JOHANNESBURG, May 29 (Reuters) -The following equity and currency market moves may affect South African markets on Monday.


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/


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


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 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/


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:


- What keeps Godongwana awake at night

- Transnet seeks state help amid surge in sabotage

Reporting by Alexander Winning


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