July 13, 2018 / 5:46 AM / 4 months ago

South African Markets - Factors to watch on July 13

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

SOUTH AFRICAN MARKETS

South Africa’s rand regained as much as 2 percent on Thursday after an easing in the sell-off on emerging markets stemming from fears of a trade war between the United States and China.

GLOBAL MARKETS

Most Asian share markets rose on Friday, heartened by gains on Wall Street fueled by expectations of strong U.S. earnings, but China’s markets wobbled as investors braced for the impact of broadening, tit-for-tat Chinese-U.S tariffs.

WALL STREET

U.S. stock futures rose to a five-month high on Friday, extending their recent rally on expectations of solid earnings growth among U.S. firms despite threats from trade wars.

GOLD

Gold prices were muted on Friday, stuck in a tight trading range as the dollar extended gains from the previous session when strong U.S. inflation data and trade war concerns boosted demand for the greenback.

OIL

Oil prices edged lower on Friday and were set for a second weekly fall, as the market shrugged off a warning that spare capacity may be stretched as OPEC and Russia increase production.

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

- PIC CEO’s political support crumbling

- Viceroy silent on sources of income

BUSINESS REPORT

- Airline set to be airborne again

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