South African Markets - Factors to watch on July 18
JOHANNESBURG, July 18 (Reuters) -The following scheduled economic and political events, company announcements, equity and currency market moves may affect South African markets on Thursday.
ECONOMIC AND POLITICAL EVENTS
President Cyril Ramaphosa's opening of parliament address, laying out priorities for new administration from 1700 GMT
South African central bank interest rate announcement from 1300 GMT ZAREPO=ECI
COMPANIES
Investment holding company Brait BATJ.J will release the offer price of its 1.5 billion rand ($82.63 million) rights issue.
Anglo American Platinum AMSJ.J expects its half-year profit to decline by as much as 25%, mainly due to lower prices of palladium and rhodium, it said on Thursday.
Kumba Iron Ore KIOJ.J half-year production report
SOUTH AFRICAN MARKETS
The South African rand dropped sharply on Wednesday, as investors dumped riskier assets globally because of worries over the state of the world economy and geopolitical risks after U.S. presidential candidate Donald Trump's remarks on Taiwan. .JZAR/
GLOBAL MARKETS
Asian equities slid on Thursday, led by chip stocks as investors fret over the prospect of escalating trade tensions between the U.S. and China, while the yen was firm after scaling a six-week high following suspected interventions by Tokyo. MKTS/GLOB
WALL STREET
The S&P 500 and the Nasdaq tumbled on Wednesday as plunging microchip shares, in the face of potential escalation of U.S. trade conflicts with China, exacerbated the ongoing rotation out of megacap tech-related stocks. .N
GOLD
Gold prices rose on Thursday, hovering near a record high scaled in the previous session, as rising anticipation of a U.S. interest rate cut in September lifted demand for non-yielding bullion. 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
- Trade and industry department wants to use pensions to fund industrialisation
- Gwede Mantashe wants private investors for Sapref refinery rebuild
- Enoch Godongwana says Treasury is set on reducing debt
FIN 24
- Godongwana pledges to fast-track private investment in water and transport
($1 = 18.1541 rand)
(Compiled by Alexander Winning)
</body></html>Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
