May 21, 2020 / 5:48 AM / 12 days ago

REFILE-South African Markets - Factors to watch on May 21

(Adds dropped letter in third paragraph) The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday.

ECONOMIC EVENTS

- South Africa’s central bank announces lending rate decision. 1300 GMT

COMPANIES

- Spar half-year results.

- Investec Full-year results.

SOUTH AFRICAN MARKETS

South Africa’s rand edged up on Wednesday as global risk appetite improved on hopes of an economic recovery, though investors remained cautious a day ahead of a central bank rate decision.

Stocks continued their upward trajectory, following other global markets on renewed optimism of economies opening up and increasing demand.

GLOBAL MARKETS

Asian shares stepped back slightly and U.S. stock futures fell on Thursday as lingering caution about the long-term impact of the coronavirus outbreak offset some of this week’s enthusiasm over re-opening of economies.

WALL STREET

The three major averages on Wall St notched their fourth gain in five sessions on Wednesday as investors again bet on a swift economic recovery from coronavirus-driven lockdowns and the potential for more stimulus measures from the Federal Reserve.

GOLD

Gold fell on Thursday, pressured by hopes of a swift recovery from the coronavirus-driven recession although losses were capped by prospects of more stimulus and bleak data.

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

- Social bond could target R100 bln to help Covid-19 response.

- Ninety One CEO sees increased appetite for risk after ‘tough’ period.

BUSINESS REPORT

- Construction industry capacity only operating at roughly 15% in Level 4.

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