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South African Markets - Factors to watch on July 14

Kitco News

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


South Africa's rand weakened on Thursday, retreating from a one-week high as a plan by the finance minister to pull the economy out of recession and positive mining data were overshadowed by a resurgence of dollar demand.

On the stock market, the benchmark Top-40 index .JTOPI was up 0.82 percent at 47,056 points while the broader All-share index .JALSH added 0.75 percent to 53,300 points. GLOBAL MARKETS

Global stocks scaled record highs on Friday, with Asian equities rising for the fifth straight session, as signs the Federal Reserve will pursue a gradual rate tightening path and hopes of a strong earnings season lifted appetite for risk assets. WALL STREET

Wall Street posted slight gains on Thursday and the Dow hit another record high close, with financials rising ahead of profit reports due Friday from several big U.S. banks. GOLD Gold prices were largely unchanged on Friday as the dollar steadied ahead of key U.S. economic data, but the metal remained on course for its first weekly gain in three. EMERGING MARKETS

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


- Gigaba's action plan echoes past policies

- Absa CEO gears up to take on protector


- South Africa milked of billions in corruption deals

- Rand on a roll upwards in mixed trading

(Reporting by Olivia Kumwenda-Mtambo)

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