South African Markets - Factors to watch on August 1
The following company announcements, scheduled economic
indicators, debt and currency market moves and political events
may affect South African markets on Thursday.
Trade and industry department releases July new vehicle
Liberty Holdings half-year results
ArcelorMittal's South African unit half-year
SOUTH AFRICAN MARKETS
South Africa's rand steadied against the dollar in late
trade on Wednesday, as investors awaited a likely cut in
interest rates by the U.S. Federal Reserve, shifting the
spotlight away from domestic economic troubles.
The Johannesburg Stock Exchange's broader all-share index
declined 0.8% to 56,784 points, while blue-chip firms
on the top-40 index fell 0.8% to 50,799
Asian shares fell to six-week lows on Thursday while the
dollar jumped to two-year highs as the U.S. Federal Reserve
poured cold water on market expectations of a lengthy easing
cycle following a 25 basis-point rate cut.
The Dow and S&P 500 registered their biggest daily
percentage drops in two months on Wednesday after Federal
Reserve Chair Jerome Powell dampened expectations for further
cuts following the central bank's first interest rate cut in a
Gold prices dropped to two-week lows on Thursday after the
U.S. Federal Reserve cut rates by 25 basis points as expected
but tampered market expectations of a lengthy easing cycle,
lifting the dollar to a two-year high.
For the top emerging markets news, double click on
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Some of the main stories out in the South African press:
- Ramaphosa questions protector's grasp of law
- Moyo faces pushback from Old Mutual
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