South African Markets - Factors to watch on August 7
The following company announcements, scheduled economic
indicators, debt and currency market moves and political events
may affect South African markets on Friday.
- July foreign exchange reserves. 0600 GMT
- Central bank balance sheet data. 0600 GMT
- No major releases
SOUTH AFRICAN MARKETS
- South Africa's rand fell to its lowest in 10 weeks on
Thursday, as investors' risk appetite dwindled and the dollar
found some support after data showed U.S. jobless claims fell
slightly in the latest week.
The FTSE/JSE All Share Index .JALSH rose 0.05% to end the
day at 57,657 points while the FTSE/JSE Top 40 Companies Index
.JTOPI rose to an almost two-year high in intraday trading
before ending the day up 0.13% to 53,351 points.
World stock markets tumbled on Friday after U.S. President
Donald Trump ratcheted up already-heightened tensions with
Beijing by banning U.S. transactions with two popular Chinese
apps, Tencent's WeChat and ByteDance's Tiktok.
Shares on Wall Street shrugged off a sluggish start and
closed higher on Thursday, with the Nasdaq ending the session
above 11,000 for the first time as investors hoped for a new
fiscal stimulus package.
Gold smashed a record high on Friday as a safety rush
fuelled by the worsening coronavirus pandemic and its mounting
economic toll gathered pace and put bullion on track for its
longest weekly winning streak in nearly a decade.
For the top emerging markets news, double click on
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Some of the main stories out in the South African press:
- Glencore says Eskom’s price increases threaten
its smelter business and employment in South Africa.
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