South African Markets - Factors to watch on August 12

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on August 12
Credit: © Reuters.

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

ECONOMIC EVENTS

South African Reserve Bank governor Lesetja Kganyago is expected to speak about monetary policy amid COVID-19 at the University of Pretoria.

July business confidence

June retail sales

SOUTH AFRICAN MARKETS

South Africa's rand recovered on Tuesday as risk appetite improved, having fallen to its weakest in nearly 12 weeks the previous day.

The Johannesburg All-Share index (.JALSH) rose 0.72%, while the Top-40 index ( .JTOPI ) climbed 0.76%.

GLOBAL MARKETS

Asian stocks dipped on Wednesday on growing uncertainty over whether the U.S. lawmakers would agree on an additional round of big fiscal stimulus to support an economy still struggling with the novel coronavirus. 

WALL STREET

U.S. stocks closed lower on Tuesday, with the S&P 500 and Dow snapping a seven-day streak of gains and falling late in the session on growing uncertainty about breaking a stalemate in Washington over a fiscal stimulus deal. 

GOLD ( XAU= )

Gold fell below the $1,900 per ounce level on Wednesday as a resurgent dollar prompted investors to reassess their positions after a record-breaking price rally.

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