South African Markets - Factors to watch on August 8

Reuters
08/08
South African Markets - Factors to watch on August 8

JOHANNESBURG, August 8 (Reuters) - The following scheduled economic events, equity and currency market moves may affect South African markets on Friday.

ECONOMIC EVENTS

Inflation-linked bond auction

SOUTH AFRICAN MARKETS

South Africa's commodity-backed currency was steady on Thursday, supported by higher gold prices as investors fled to the safe-haven metal after steep tariffs imposed by U.S. President Donald Trump took effect.

The Johannesburg Stock Exchange's Top-40 index .JTOPI was up 0.6% boosted partially by gold miners. .JZAR/

GLOBAL MARKETS

Japanese shares surged on Friday after positive earnings reports and expectations the U.S. would remove overlapping tariffs on the country's goods, while shares were down in other Asian markets after a late retreat on Wall Street during the previous session. MKTS/GLOB

WALL STREET

The Dow and S&P 500 eased on Thursday, as shares of Eli Lilly dropped after data from its oral weight loss drug disappointed, while the Nasdaq eked out a record closing high..N

GOLD

Gold futures climbed to a record high on Friday after a report that the United States had imposed tariffs on imports of 1-kg gold bars, while spot gold stayed on track for a second straight weekly gain on tariff turmoil and U.S. interest rate-cut hopes. GOL/

EMERGING MARKETS

For the top emerging markets news, double click on nTOPEMRG

- - - -

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

BUSINESS DAY

- HCI eyes gas-fired power plant in Mossel Bay

NEWS24

- New police minister sounds alarm on South African Police Service

- Ninety One unhappy with Prime Kapital’s offer window

(Compiled by Sfundo Parakozov)

((Sfundo.Parakozov@thomsonreuters.com))

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