South African Markets - Factors to watch on Jan 12

JOHANNESBURG Jan 12 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday.

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GLOBAL MARKETS

Asian stocks slipped for a fourth consecutive session and the yen climbed against the euro on Monday, as a relentless global economic slowdown renewed investor caution about taking on risk.

Friday's December U.S. payrolls report, which showed more than half a million jobs lost and the highest unemployment rate since 1993, aggravated anxieties that consumer demand for Asian exports is nowhere near recovering, keeping oil prices near $40 a barrel. [ID:nSP404899]

For a story, please double click on [ID:nLC142621].

SOUTH AFRICAN MARKETS

South Africa's rand fell to a 3-week low against the resurgent dollar on Friday and local stocks inched lower as worries about the global economy erased earlier gains led by financials.

The dollar gained after official data showed the U.S. economy lost 524,000 jobs last month, less than market expectations of 550,000. The rand ZAR=D3 was trading at 9.7850 to the dollar around 1535 GMT, about 1.45 percent weaker than its last New York close of 9.65.

For Friday's South African financial markets closing report, double click on [ID:nL9137352].

SOUTH AFRICAN POLITICS

A South African court will decide on Monday whether to reopen a corruption case against Jacob Zuma, leader of the ruling ANC, after an appeal by prosecutors against the dismissal of charges.

Reopening of the case could damage Zuma's image and it would almost certainly overlap with his campaign for the presidency in a general election expected around March or April.

It would be unlikely to stop him being elected but could add to political uncertainty in Africa's biggest economy.

Separately, the ruling ANC vowed on Saturday to create jobs, improve education and health and fight crime in a shift to the left at the launch of its manifesto before this year's parliamentary election.

The Star newspaper said on Monday the ANC was hoping for an election on or around April 15.

For story double click on [ID:nL9498118] and [ID:nLA536484]

SIMMER & JACK MINES (SIMJ.J)

The miner said lender Aberdeen International Inc wants to convert an outstanding loan into Simmers shares. If it gets shareholder approval, the conversion will result in 115.5 million Simmers shares, or 9.8 percent of its capital, being issued at 80 cents per share.

For company statement double click on [ID:JSEL0001A]

ESKOM [ESC.UL]

Utility Eskom [ESCJ.UL] will resume construction of its Medupi power station in the country's Limpopo province after a cholera scare halted work, spokesman Fani Zulu said on Sunday.

Zulu said 61 workers taken ill since Thursday with cholera-like symptoms were getting better and most would return to work on Monday.

For story double click on [ID:nLB695126]

SAA [SAA.UL]

State-owned South African Airways is confident it can increase revenue by at least 10 percent in 2008/09 driven by sustained passenger demand, the company's spokeswoman was quoted as saying in a paper.

For story double click on [ID:nLB668165]

ANGLOPLAT (AMSJ.J), IMPLAT (IMPJ.J)

Nomura downgraded South Africa's Anglo Platinum to "neutral" from "buy" after the bank cut its platinum price forecasts and after a rally in the firm's stock, it said on Friday.

Nomura reiterated its "buy" rating on rival Impala Platinum, but cut its target price by 12 percent to 216.72 rand from 245.82 rand due to its reduced forecasts for platinum group metal (PGM) prices.

For story double click on [ID:nL9723769]

SHOPRITE (SHPJ.J)

South Africa's biggest supermarket group may issue a Christmas trading statement on Monday.

The company said on Friday it notched up a "satisfactory" increase in sales over the festive season and said it would issue a trading statement early this week.

For story double click on [ID:nL9551205]

REINET (REIJ.J)

Reinet Investments confirmed it is in talks to participate in the partial buy-out of the former Lehman Brothers' private equity business LEHMQ.PK.

No formal agreement on the assets has been reached at this time, with a further announcement to be made in due course. [ID:nLC151443]

GOLD XAU=

Gold slipped in thin trade on Monday as oil extended losses, but investors were likely to buy bullion on dips given continued global economic uncertainty.

Investors awaited the European Central Bank's policy meeting on Thursday, which could set the direction of the dollar amid expectations of more rate cuts that kept the euro on the defensive. [ID:nL9311168]

Gold XAU= was trading at $852.15 an ounce, down $1.45 an ounce from New York's notional close on Friday.

For the latest precious metals report, double click on [GOL/].

WALL STREET

U.S. stocks fell on Friday after government data showed the labor market deteriorated further in December, raising investor concerns about the outlook for profits, spending and a deepening recession.

Shares of Citigroup Inc (C.N) fell 5.7 percent after the Wall Street Journal said the bank may sell its Smith Barney brokerage, with Morgan Stanley (MS.N) a possible suitor, prompting question about why it would want to sell one of its relatively healthier businesses.

For the New York stock market report, double click on [.N].

EMERGING MARKETS

For the top emerging markets news, double click on [nTOPEMRG]

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

BUSINESS DAY

- Talk of deal to resolve marathon Zuma case. Prosecutors and ANC chief's lawyers said to be keen on settlement

- World bourses wild amid signs of deepening global slump

- MPs to decide prosecution director Vusi Pikoli's fate

BUSINESS REPORT

- Firms queue for investment incentives

- ANC election manifesto raises questions as well as applause

- Investors alerted to election's potential

THE STAR

- April 15 tipped as "ideal" election date

(Reporting by Rebecca Harrison)