South African Markets - Factors to watch on June 1

JOHANNESBURG, June 1 (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 and the Australian dollar shot to eight-month highs on Monday after a gauge of China's manufacturing activity offered fresh evidence of a recovery in the world's third-largest economy.

Growing optimism that the worst of the global downturn is over offset long-expected news that General Motors Corp (GM.N) will file for bankruptcy later in the day in a government-managed process that will pump another $30 billion in U.S. taxpayers' money into the ailing automaker. [ID:nN31495007]

For a story, please double click on [ID:nL1392274]

SOUTH AFRICAN MARKETS

South Africa's rand came off its 8-month high to the dollar on Friday after heavy gains this week on optimism about a possible MTN/Bharti deal, while miners lifted stocks to their highest level in nearly 5 months.

The JSE Top-40 index of blue-chip stocks gained 2.3 percent to 20,605.38 points, its strongest level since Jan. 7, according to Reuters data, while the JSE All-share index .JALSH rose 2.46 percent to 22,864.41 points.

For Friday's South African financial markets closing report, double click on [ID:nLT620457]

CADIZ HOLDINGS LTD (CDZJ.J)

South African financial services firm Cadiz Holdings Ltd CZDJ.J posted a 27.8 percent drop in full-year diluted headline earnings per share on Monday.

For more, double click on [ID:nWEA4958]

BIDVEST (BVTJ.J)

South African industrial conglomerate Bidvest (BVTJ.J) said on Friday the auto sector was showing some signs of levelling out and other economies in which it operates were moving into more positive territory.

For more, double click on [ID:nWEA4936]

SOUTH AFRICA - MINING INDUSTRY

South Africa's President Jacob Zuma said on Saturday he plans to focus on enforcing safety measures to curb mining deaths which have hurt output and to review black ownership in the mining industry.

For a story, double click on [ID:nLU604953]

GOLD XAU=

Gold hit a three-month high on Monday, helped by a weak dollar and concerns about rising prices after governments around the world boosted spending to try to rescue their economies from the global financial meltdown.

Other commodities such as oil have also extended gains on a brighter economic outlook, another reason fanning fears of a medium- to long-term inflation, traders said.

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

WALL STREET

U.S. stocks rose on Friday, capping their third straight monthly advance, as rising commodity prices lifted shares of natural resource companies, while a sliding dollar boosted the allure of multinationals, including Coca-Cola Co (KO.N).

Investors were encouraged by a report showing in May consumer confidence hit its highest in eight months, while the run-up in commodities fuelled bets that overseas demand would underpin a recovery in the global economy.

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

EMERGING MARKETS

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

ZIMBABWE

Zimbabwe's MDC party on Sunday demanded the resignation of the central bank governor and attorney general, saying their continued tenure was sowing conflict and division in a new unity government.

For a story, double click on [ID:nLV102946]

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

BUSINESS DAY

- Recession, job losses challenge as South African President Jacob Zuma gets down to business

- Arts and Culture Minister Lulu Xingwana's "land-grab cronyism"

- Days of reckoning for U.S. automotive giants

BUSINESS REPORT

- Tribunal must calculate valid steel price-court

- Steel maker ArcelorMittal SA's (ACLJ.J) profit to be boosted by verdict on excessive pricing

THE STAR

- Horror of boys' sex abuse: three year old one of the youngest victims in disturbing trend

- Nelson Mandela's grandson denies selling funeral rights

(Reporting by Serena Chaudhry)