June 8 (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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Hong Kong and Shanghai stocks edged higher on Tuesday after a sell-off in the previous session, but trading in large caps was muted as investors awaited economic cues from China. [ID:nTOE657032]
SOUTH AFRICAN MARKETS
South African stocks fell for the third straight session on Monday, tracking global equities as worries over the U.S. economy unnerved investors, while the rand steadied but remained vulnerable to risk aversion. [.J]
Australia’s Newcrest Mining (NCM.AX) said it has finished due diligence on rival Lihir Gold (LGL.AX) and expects to complete an $8 billion acquisition to created the world’s fourth-largest listed gold miner by September. [ID:nSGE657007]
HARMONY GOLD MINING (HARJ.J)
The gold miner said on Tuesday it plans to terminate the listing of its U.S. depository receipts on the Nasdaq exchange. [ID:nWEA5204]
South African Grain Information Service releases data on weekly maize imports and exports at 1000 GMT.
South Africa auctions 1.5 billion rand of 2021 bond ZAR208= and 600 million of 2031 issues in weekly auction at 0900 GMT.
Gold edged down on Tuesday, after rising 2 percent to just below a lifetime high the previous day as investors sought a safe haven from volatile currencies, falling stock markets and euro zone credit fears.
Spot gold XAU= was at $1,237.75 an ounce by 0526 GMT, down 30 cents from New York’s notioncal close on Monday. [GOL/]
U.S. stocks fell on Monday, taking the S&P 500 to its lowest close in seven months, as industrials and technology shares fell and investors remained cautious following last week’s discouraging payrolls data.
The Dow Jones industrial average .DJI fell 1.16 percent to 9,816.49. The Nasdaq Composite Index .IXIC tumbled 2.04 percent to 2,173.90.
For the top emerging markets news, double click on [nTOPEMRG]
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Some of the main stories out of the South African press:
- “Hands-on” Dames likely to be Eskom CEO
- Junior doctors may strike again over pay, conditions
- Capitec denies takeover talk as HSBC boss visits
- Metropolitan seeks African expansion
- Hogan “had power” to sack chief
- SA economy fails to impress this quarter
- Soccer organisers did not implement Fifa’s critical measures
(Reporting by David Dolan)