July 11, 2018 / 5:45 AM / 4 months ago

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.

GLOBAL MARKETS

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.

WALL STREET 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 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

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.

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

- Blow to Ramaphosa plan to sort out NPA

- Council: 75 percent of South Africa’s gold mines unprofitable

BUSINESS REPORT

- McKinsey & Company not off the hook ($1 = 13.4204 rand)

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