ARCMITTAL:  220   -12 (-5.17%)  22/09/2019 00:00

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.

ECONOMIC EVENTS

Trade and industry department releases July new vehicle sales

COMPANIES

Liberty Holdings half-year results

ArcelorMittal's South African unit half-year results

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 points.

GLOBAL MARKETS

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.

WALL STREET

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 decade.

GOLD

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.

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

- Ramaphosa questions protector's grasp of law

BUSINESS REPORT

- Moyo faces pushback from Old Mutual

2019-08-01 07:43:15

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