August 11, 2017 / 5:51 AM / in 4 months

South African Markets - Factors to watch on August 11

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

ECONOMIC EVENTS

- Moody’s decides on South Africa’s sovereign rating

SOUTH AFRICAN MARKETS

South African stocks pulled away from record highs on Thursday as rising tensions on the Korean peninsula drove investors to limit risks and shift to safe havens.

Among movers on the exchange, Pioneer Food fell 6.81 percent to 132 rand, making it the biggest decliner, after reporting a 4 percent decline in 10 months sales.

GLOBAL MARKETS

Asian equity markets extended a global slide on Friday as tensions ramped up between the United States and North Korea, sending investors fleeing to less risky assets such the yen, the Swiss franc and U.S. Treasuries.

WALL STREET

The S&P 500 index had its biggest one-day drop in almost three months on Thursday as investors fled riskier assets, with technology stocks leading the charge, in response to an increasingly aggressive exchange of threats between the United States and North Korea.

GOLD

Gold prices held steady after touching their highest in over two months on Friday and were on track for a weekly gain, buoyed as rising tensions between the United States and North Korea triggered safe-haven buying.

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

- White knight rides to Sovereign’s rescue

- Kubayi investigates 80 million rand nuclear contract irregularity

BUSINESS REPORT

- Transnet gets National Railways of Zimbabwe $400 million tender

- JSE-listed companies facing employment equity crackdown (Reporting by Tanisha Heiberg)

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