South African Markets - Factors to watch on March 24

Reuters
2025/03/24
South African Markets - Factors to watch on March 24

JOHANNESBURG, March 24 (Reuters) - The following scheduled economic events, company announcement, equity and currency market moves may affect South African markets on Monday.

ECONOMIC EVENTS

Foreigners' trading in South African bonds and equities

South African T-bill auction

COMPANIES

Australia's Gold Road Resources rejects $2 billion takeover offer from Gold Fields

SOUTH AFRICAN MARKETS

South Africa's rand remained on the back foot on Thursday after the country's central bank left its main interest rate unchanged as expected.

On the stock market, the Top-40 .JTOPI index was last trading around 0.8% lower. .JZAR/

GLOBAL MARKETS

Financial markets made an optimistic start on Monday with U.S. stock futures rising and the dollar firm ahead of a week driven by data, and the threat of steep U.S. tariff hikes on the horizon. MKTS/GLOB

WALL STREET

The S&P and Dow eked out slight gains on Friday, erasing earlier losses after comments from U.S. President Donald Trump provided hope that previously announced tariffs expected to begin in early April may not be as burdensome as feared. .N

GOLD

Gold dipped on Monday as the dollar strengthened, while traders awaited fresh catalysts after a recent rally pushed prices to record highs, fuelled by geopolitical concerns and hopes of U.S. rate cuts. GOL/

EMERGING MARKETS

For the top emerging markets news, double click on nTOPEMRG

- - - -

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

BUSINESS DAY

- Rasool concedes failure to sell SA to Trump administration

- SA fears realised as US cuts HIV/Aids research funding

FIN 24

- Govt payment delays now so bad that job cuts loom, says veteran construction consultancy

- Cape Town is considering using AI for traffic lights - it may reduce stops by 30%

(Compiled by Bhargav Acharya)

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