AVENG: 2 0 (0.00%)
South African Markets - Factors to watch on August 7
The following company announcements, scheduled economic
indicators, debt and currency market moves and political events
may affect South African markets on Wednesday.
- The South African Reserve Bank to publish July reserves
- The South African Chamber of Commerce and Industry (SACCI)
- Aveng Ltd says to sell Aveng Duraset
- Distell full-year trading statement.
SOUTH AFRICAN MARKETS
South Africa's rand weakened to two-month lows in late
afternoon trade on Tuesday, giving up gains earlier in the
session, after ratings agency Moody's said power utility Eskom
urgently needs a turnaround plan as its capital structure is
On the bourse, stocks snapped a two-session losing streak as
a rout in global markets eased.
Shares in Asia fell for an eighth straight session on
Wednesday on lingering worries over the escalating U.S.-China
trade war, but losses and nerves were soothed somewhat by White
House assurances that it wants to press ahead with
U.S. stocks jumped more than 1 percent on Tuesday, bouncing
back from a sharp sell-off the previous day as China stepped in
to stabilize the yuan, easing concerns that currencies would be
the next weapon in the U.S.-China trade war.
Gold prices touched a more than six-year high on Wednesday,
as the trade war between China and the United States showed no
signs of abating, boosting the appeal of safe-haven
For the top emerging markets news, double click on
- - - -
Some of the main stories out in the South African press:
- Nedbank CEO: South Africa is running out of time
- Mkhwebane eases back in fight with Ramaphosa
(Compiled by Olivia Kumwenda-Mtambo)
© 2019 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.