South Africa, India, and Mexico are gearing up for crucial elections this week, marking a period of political endings and potential triumphs. In South Africa, the ruling African National Congress faces the possibility of losing its absolute majority in the general election on Wednesday, a historic moment if it occurs. Former president Jacob Zuma will not be standing, adding to the political dynamics in the country.
Meanwhile, in India, the polls will close on Saturday for the parliamentary elections, with Prime Minister Narendra Modi expected to secure a comfortable win despite signs of waning popularity. The official results will be announced on June 4, shaping the political landscape in the country for the coming years.
In Mexico, voters will head to the polls on Sunday, with Claudia Sheinbaum from the incumbent party leading in the polls. However, the opposition claims that the surveys are biased, adding a layer of uncertainty to the outcome of the election.
Economically, the week will see a focus on GDP updates, with revised first-quarter figures from the US and fourth-quarter figures from India. Additionally, shareholders of Hess will vote on the $53 billion sale to Chevron on Wednesday, amidst a dispute over oil-rich Guyana casting a shadow over the deal. BHP also faces a deadline to make a final bid for Anglo American, with the latter extending takeover talks despite rejecting previous offers.
Overall, the week ahead promises to be eventful with key elections and economic updates shaping the future of these countries. Stay tuned for more updates on these crucial events.