South African Markets - Factors to watch on July 8

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on July 8
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

- No major releases.

COMPANIES

- Full Year 2020 Accelerate Property Fund Ltd APFJ.J Earnings Release.

-

SOUTH AFRICAN MARKETS

South Africa's rand weakened on Tuesday as worries over surges in coronavirus infections reactivated investor concerns about the economic impact of the pandemic.

Stocks bucked a global trend of a fall in share prices, with the benchmark FTSE/JSE All Share index .JALSH up 0.77% to end the day at 55,267 points and the FTSE/JSE Top 40 Companies' Index .JTOPI closing up 0.9% to 50,958 points. .J ZAR/

GLOBAL MARKETS

Asian stocks dithered on Wednesday as an increase in new coronavirus cases in some parts of the world cast doubts over the economic recovery while oil prices eased on oversupply fears. MKTS/GLOB

WALL STREET

U.S. stocks fell on Tuesday, adding to losses into the close, as investors took profits a day after the S&P 500 logged its longest streak of gains this year and as new U.S. coronavirus cases rose further. .N

GOLD XAU=

Gold steadied near a more than eight-year high on Wednesday, as worries over surging COVID-19 cases and hopes of more stimulus measures from the U.S. Federal Reserve lifted demand for the safe-haven metal. GOL/

EMERGING MARKETS

For the top emerging markets news, double click on - - -

Some of the main stories out in the South African press:

BUSINESS DAY

- SA might benefit from locust outbreak in East Africa

- Eskom names SA construction firm Stefanutti Stocks and Swiss-Swedish multinational ABB among the contractors overpaid 4 billion rand ($233 million) for work at the troubled Kusile power station.

BUSINESS REPORT

- Local banks have so far approved more than 30.6 billion rand ($1.78 billion) in relief to individuals and businesses affected by the Covid-19 pandemic and the national lockdown imposed in response. ($1 = 17.1433 rand)

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