South African Markets - Factors to watch on July 12

Fri, 12th Jul 2019 06:35

JOHANNESBURG, July 12 (Reuters) - The following company announcements, economic events, debt and currency market moves may affect South African markets on Friday.

ECONOMIC EVENTS

Inflation-linked bond auction

Treasury bill auction

COMPANIES

Steinhoff results

SOUTH AFRICAN MARKETS

South Africa's rand strengthened on Thursday after the chairman of the Federal Reserve set the stage for a U.S. interest rate cut later this month, weakening the dollar and boosting risk appetite worldwide.

GLOBAL MARKETS

Asian shares veered between small losses and gains on Friday as investors awaited key China data, and as worries over Sino-U.S. trade tensions countered optimism rooted in expectations of a Federal Reserve rate cut this month.

WALL STREET

The Dow and S&P 500 rose on Thursday to close at record highs as health insurers gained after the Trump administration scrapped a plan designed to rein in prescription drug prices, while financial shares climbed with bond yields.

GOLD

Gold prices rose on Friday and were on track to post a weekly gain, consolidating above $1,400 as renewed Sino-U.S. trade tensions and global growth jitters stoked safe-haven demand.

EMERGING MARKETS

For the top emerging markets news, double click on

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

BUSINESS DAY

- Police minister deploys army to crime-ridden Western Cape

- Government going ahead with state-owned bank, says Mboweni

(Compiled by Alexander Winning)

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