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South African Markets - Factors to watch on July 11
The following company announcements, scheduled economic
indicators, debt and currency market moves and political events
may affect South African markets on Wednesday.
SOUTH AFRICAN MARKETS
South Africa's rand extended gains on Tuesday from the last
three sessions as a lull in global trade war fears lifted demand
for emerging currencies, while market heavyweight Naspers and
resources firms led stocks lower.
A sell-off in Chinese markets knocked Asian stocks on
Wednesday as U.S. threats of tariffs on an additional $200
billion worth of Chinese goods pushed the world's two biggest
economies ever closer to a full-scale trade war.
U.S. stock futures extended their losses on Wednesday after
Washington announced a plan to slap tariffs on an extra $200
billion of imports from China, sharply escalating a trade war
between the world's two biggest economies.
Gold prices fell on Wednesday as the dollar firmed against the
yuan after the United States threatened to impose additional
tariffs on Chinese goods, escalating trade tensions between the
world's two largest economies.
Oil prices fell on Wednesday, with Brent dropping by more
than $1 at one point, after U.S. President Donald Trump
threatened to levy new trade tariffs on China.
For the top emerging markets news, double click on
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Some of the main stories out in the South African press:
- Blow to Ramaphosa plan to sort out NPA
- Council: 75 percent of South Africa's gold mines
- McKinsey & Company not off the hook
($1 = 13.4204 rand)
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