July 16, 2019 / 10:13 AM / 3 months ago

UPDATE 1-South African Markets - Factors to watch on July 16

(Adds Tongaat results postponed to October)

July 16 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.

ECONOMIC EVENTS

- No major releases.

COMPANIES

- Full Year 2019 Tongaat Hulett Ltd Earnings postponed to October not July 16

- Half Year 2019 Group Five Earnings Release.

SOUTH AFRICAN MARKETS

South Africa’s rand firmed on Monday as bets the Federal Reserve will cut interest rates next week continued to boost the currency in the absence of any local economic drivers, on a day dominated by ex-president Jacob Zuma’s testimony at a graft inquiry.

GLOBAL MARKETS

The pound struggled near a six-month low against the dollar on Tuesday, hampered by persistent worries over Brexit that, in turn, weighed on the euro.

WALL STREET

The benchmark S&P 500 index ended little changed on Monday after oscillating between positive and negative territory throughout the session after Citigroup Inc C.N kicked off the earnings season with a mixed quarterly report.

GOLD

Gold prices held steady on Tuesday as investors awaited U.S. retail sales data that could serve as an indicator of the strength of the world’s largest economy amid lingering concerns over global economic slowdown.

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

- President Ramaphosa seeks to stop public protector action against public enterprises minister Pravin Gordan

- Energy Minister Mentashe says shutdown of nuclear medicine plant reckless and suspicious

BUSINESS REPORT

- Competition commission investigates telecoms firm Blue Label for disempowering small businesses

- Nedbank CEO proposes cash injection and debt for equity swop to save Eskom

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