South African Markets - Factors to watch on Aug 20
JOHANNESBURG, Aug 20 (Reuters) -The following scheduled economic events, company announcement, equity and currency market moves may affect South African markets on Tuesday.
ECONOMIC EVENTS
The South African Reserve Bank will publish the country's leading indicator for June.
South Africa's government will hold its weekly auction of long-term bonds.
COMPANIES
Petrochemical firm Sasol SOLJ.J reported a 66% fall in full-year profit.
SOUTH AFRICAN MARKETS
The South African rand strengthened to a nearly 13-month high on Monday, ahead of the release of domestic inflation data on Wednesday which may provide hints on the country's future interest rate path.
On the stock market, the Top-40 .JTOPI index closed up 1.27%..JZAR/
GLOBAL MARKETS
Asian stocks scaled a one-month peak on Tuesday, tracking a Wall Street rally driven by expectations that the Federal Reserve could offer further hints of imminent rate cuts later this week. MKTS/GLOB
WALL STREET
U.S. stocks advanced on Monday, building on their largest weekly percentage gain of the year as investors focused on the Democratic National Convention and the upcoming Jackson Hole Economic Symposium. .N
GOLD
Gold held steady near its record high on Tuesday as investors awaited U.S. Federal Reserve minutes and Chair Jerome Powell's speech for indications on how much the central bank will cut rates this year. GOL/
EMERGING MARKETS
For the top emerging markets news, double click on nTOPEMRG
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Some of the main stories out in the South African press:
BUSINESS DAY
- Top US bank expects SA’s GDP to grow 2% next year
- SA’s ports do better, but agricultural exports slow
(Compiled by Tannur Anders)
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