MTN:  8,190   0 (0.00%)  15/11/2018 00:00

South African Markets - Factors to watch on Aug 8

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday.

ECONOMIC EVENTS

- July Business Confidence Index (1130)

COMPANIES

- MTN H1 profit down 7 percent.

SOUTH AFRICAN MARKETS

South Africa's rand gained more than one percent on Tuesday, reversing the previous session's losses as the dollar rally paused and investors sought alternatives to the Turkish lira. The all-share index closed 1.49 percent higher at 57,705 points while the benchmark Top-40 index was up 1.33 percent to 51,578 points.

GLOBAL MARKETS

Asian shares extended their recovery into a fourth day on Wednesday, buoyed by strong U.S. earnings and expectations that Beijing will ramp up fiscal stimulus to cushion the impact of its worsening trade dispute with Washington.

WALL STREET

The S&P 500 inched nearer to a record high on Tuesday, lifted by Amazon, Alphabet and Microsoft, and by a strong second-quarter earnings season that fueled optimism about the U.S. economy's strength.

GOLD

Gold prices drifted higher in Asian trade on Wednesday, extending gains into a second session, as the U.S. dollar softened against China's yuan and the euro.

EMERGING MARKETS

For the top emerging markets news, double click on

- - - -

Some of the main stories out in the South African press:

BUSINESS DAY

- Cabinet talks zero in on growth, jobs crisis. (Compiled by Ed Stoddard)

2018-08-08 07:24:15

© 2018 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.