ECONOMIC EVENTS Monthly vehicle sales data South Africa to announce tax revenue for 2022/23 fiscal year Foreigners trading in South African bonds and equities SOUTH AFRICAN MARKETS South African stocks slipped as the rand firmed on Friday, a day after the central bank hiked interest rates more than expected.
Both the blue-chip Top 40 index and the benchmark all-share index closed about 0.8% lower. GLOBAL MARKETS Oil prices surged on Monday after Saudi Arabia and other OPEC+ producers announced a surprise round of output cuts, a potentially ominous sign for global inflation just days after a slowdown in U.S. price data had boosted market optimism. WALL STREET Wall Street rallied more than 1% on Friday and the Nasdaq notched its biggest quarterly percentage gain since June 2020, as signs of cooling inflation bolstered hopes the Federal Reserve might soon end its aggressive interest rate hikes. GOLD Gold prices slid on Monday after a surprise announcement from OPEC+ about a cut to oil output sparked inflation concerns and raised bets of an interest rate hike at the U.S. Federal Reserve's upcoming May meeting. EMERGING MARKETS For the top emerging markets news, double click on - - - -
Some of the main stories out in the South African press:
BUSINESS DAY - Eskom exempted from reporting expense irregularities in financial statements FIN 24 - Chance of grid collapse has increased, says Nedbank economist
- JSE considers launching renewable energy certificates market (Compiled by Bhargav Acharya)
