South African Markets - Factors to watch on August 16

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on August 16
Credit: © Reuters.

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

ECONOMIC EVENTS

- No major releases.

COMPANIES

- Full Year 2019 Tongaat Hulett TONJ.J Earnings Release.

- Full Year 2019 City Lodge Hotels CLHJ.J Earnings Release.

SOUTH AFRICAN MARKETS

The South African rand ZAR=D3 gained more than 1 percent against the dollar on Thursday, pulling back from a steep sell-off as worries about the global economy eased slightly.

On the Johannesburg bourse, stocks recovered some ground lost earlier in the day but still closed weaker, with investors averse to risk a day after an inversion of the U.S. Treasury bond yield curve, a sign some investors see as a harbinger of recession in the world's largest economy. .J ZAR/

GLOBAL MARKETS

Asian shares found some footing on Friday after a turbulent week as China hinted at more support for its economy, amid growing expectations of aggressive stimulus from all the major central banks. MKTS/GLOB

WALL STREET

The S&P 500 and the Dow gained ground in a late rally on Thursday as upbeat retail sales data offset recessionary fears amid the simmering U.S.-China trade tensions. .N

GOLD XAU=

Gold prices edged lower on Friday but were headed for a third consecutive weekly gain, as fears over a global economic slowdown and a lack of clarity on the U.S.-China trade war boosted the metal's safe-haven appeal. 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

- President Ramaphosa signs consumer debt relief bill into law.

BUSINESS REPORT

- RCL Foods RCLJ.J flags earnings dip over cheap imports, sugar bill.

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