SHOPRIT:  12,065   0 (0.00%)  23/08/2019 00:00

South African Markets - Factors to watch on July 23

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.

COMPANIES

Kumba Iron Ore published its half-year results at 0505 GMT. Shoprite Holdings will publish its fourth quarter trading update.

SOUTH AFRICAN MARKETS

South Africa's rand rallied on Monday, brushing aside local political ructions as investors increased bets on further monetary easing by the European and U.S. central banks.

GLOBAL MARKETS

Expectations that the European Central Bank and Federal Reserve will cut interest rates boosted stocks globally, while the pound sagged on worries that likely new prime minister Boris Johnson would lead Britain into a no-deal exit from the European Union.

WALL STREET

The S&P 500 climbed toward a record high on Monday, supported by expectations of lower interest rates, while investors awaited quarterly earnings from marquee companies Facebook, Alphabet and Amazon later this week.

GOLD

Gold prices fell on Tuesday as the dollar strengthened and some investors locked in profits ahead of the U.S. Federal Reserve meeting next week.

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

- Gordhan takes on public protector in court

- New unit aims to root out graft with lifestyle audits within public service

BUSINESS REPORT

- Community appeals to Concourt to set aside R5.2bn takeover

- R4.6bn was lost in bad Erin deal

2019-07-23 07:22:23

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