South African Markets - Factors to watch on May 5



May 5 (Reuters) - The following scheduled economic events, equity and currency market moves may affect South African markets on Thursday.

ECONOMIC EVENTS

S&P Global South Africa Purchasing Managers' Index for April to be released.

SOUTH AFRICAN MARKETS

The South African rand weakened against the dollar on Wednesday, as investors waited for cues from the U.S. Federal Reserve on its interest rate hike trajectory later in the day.

The Johannesburg All-Share index .JALSH fell 1.38% to 70,357 points, while the Top-40 index .JTOPI ended the session 1.28% lower at 63,573 points.

GLOBAL MARKETS

Asian shares tracked Wall Street gains on Thursday after the U.S. central bank raised interest rates by 50 basis points but sounded a less hawkish tone than some had feared, lifting investor sentiment and sending the dollar lower.

WALL STREET

U.S. stocks ended sharply higher on Wednesday after the Federal Reserve delivered a widely expected interest-rate hike, and the S&P 500 recorded its biggest one-day percentage gain in nearly two years.

GOLD

Gold prices climbed more than 1% on Thursday after U.S. Federal Reserve Chair Jerome Powell ruled out large, aggressive interest rate hikes for the year as the central bank seeks to contain inflation without triggering an economic recession.

EMERGING MARKETS

For the top emerging markets news, double click on

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

BUSINESS DAY

- Pravin Gordhan floats risk of stage 8 load-shedding

- Government races to put in place new Covid-19 regulations

FIN 24

- Sanlam is closing all gaps in its African expansion plans, says CEO on Allianz JV (Compiled by Bhargav Acharya;)

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