South African Markets - Factors to watch on July 11
JOHANNESBURG, July 11 (Reuters) -The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Thursday.
ECONOMIC EVENTS
Statistics South Africa will publish May's mining data at around 0930 GMT and manufacturing data at around 1100 GMT.
COMPANIES
South Africa's third biggest supermarket group Pick n Pay PIKJ.J will release details of its 4 billion rand ($220.78 million) rights issue, including offer price per share.
SOUTH AFRICAN MARKETS
The South African rand gained on Wednesday against a weaker dollar, as focus remains on the future interest rate path of the U.S. economy and how that will affect currency markets.
On the Johannesburg Stock Exchange, the blue-chip Top-40 index .JTOPI closed 0.14% weaker..JZAR/
GLOBAL MARKETS
Asian stocks rallied to record peaks on Thursday while sterling edged to a four-month high on better than expected UK growth figures, as traders counted down to U.S. data that is expected to show inflation easing and pave the way for rate cuts as soon as September.MKTS/GLOB
WALL STREET
The Nasdaq and S&P 500 rallied to record high closes on Wednesday, fuelled by gains in Nvidia NVDA.O and other Wall Street heavyweights ahead of inflation data and quarterly earnings reports due this week..N
GOLD
Gold prices firmed for a third consecutive session on Thursday, with investors awaiting U.S. inflation data due later in the day for more insights on the Federal Reserve's interest rate path.GOL/
EMERGING MARKETS
For the top emerging markets news, double click on nTOPEMRG
- - - -
Some of the main stories out in the South African press:
BUSINESS DAY
- Regulator warns of SA banks’ exposure to ‘risky’ sovereigns
- Fitch continues to refrain from rating SA banks
($1 = 18.1177 rand)
(Compiled by Tannur Anders)
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