July 26, 2019 / 5:34 AM / 25 days ago

South African Markets - Factors to watch on July 26

JOHANNESBURG, July 26 (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

South African Reserve Bank holds Annual General Meeting.

SOUTH AFRICAN MARKETS

South Africa’s rand fell to a two-week low on Thursday, hurt by a Moody’s report saying the government’s proposal to offer additional support to cash-strapped power utility Eskom was credit negative.

GLOBAL MARKETS

The dollar stayed near a two-week high versus the yen on Friday as investors pared expectations for aggressive Federal Reserve interest rate cuts ahead of key U.S. economic data later in the day.

WALL STREET

Wall Street fell from record highs on Thursday following a flurry of downbeat quarterly results from Ford Motor and other companies and after European Central Bank chief Mario Draghi’s comments disappointed investors hoping for a more dovish stance on monetary policy.

GOLD

Gold prices steadied on Friday after touching a one-week low in the previous session, buoyed by expectations of monetary policy easing from leading central banks, while investors awaited U.S. economic growth data due later in the day.

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

- Sasol share price plunges on Lake Charles woes

- Mediclinic investors vote down pay report

BUSINESS REPORT

- Mboweni blocks PIC political meddling

- Capco moving ahead with demerger of Covent Garden (Compiled by MacDonald Dzirutwe)

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