South African Markets - Factors to watch on July 30

JOHANNESBURG, July 30 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday.

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GLOBAL MARKETS

Asian share markets were largely steady on Thursday, struggling to regain multi-month highs, while Shanghai shares see-sawed after a 5 percent sell-off the previous day that sent other markets reeling.

The MSCI index of Asia-Pacific shares excluding Japan .MIAPJ0000PUS rose 0.4 percent after tumbling 1.8 percent on Wednesday. The index hit a 10 month high on Tuesday.

For a story, please double click on [ID:nSP527314]

SOUTH AFRICAN MARKETS

South African stocks dipped for a third session as investors dumped financial and retail shares on worries about the economy and ArcelorMittal South Africa slumped after reporting lower earnings.

The rand edged weaker but held up well considering dollar gains against other currencies and a continuing council workers' strike, while government bonds firmed, bolstered by a surprisingly big slowing in inflation for June. The JSE Top-40 index of blue-chip stocks .JTOPI fell 0.75 percent to 21,245.76 points while the All-share index .JALSH softened 0.75 percent to 23,589.29 points, a third session of losses after a robust 2-week rally.

For Wednesday's South African financial markets closing report, double click on [ID:nLT67576]

SOUTH AFRICAN ECONOMY

Leaders of thousands of striking South African council workers were due to meet on Wednesday to consider a new pay offer in a dispute that has disrupted local government services and put pressure on President Jacob Zuma.

The three-day-old strike is the latest stand-off between Zuma and the unions who helped sweep him to power in an April election and now want the president to fulfil his promises to help lift the living standards of the poor.

For story double click on [ID:nLT535604]

SOUTH AFRICAN POLITICS

South African President Jacob Zuma on Wednesday appointed Bheki Cele, a provincial safety minister, as the country's new national police chief, tasked with tackling rampant crime ahead of the 2010 World Cup.

Cele replaces Jackie Selebi who was suspended as national police commissioner in January 2008 and faces a corruption trial in October. Opposition groups accuse Zuma of choosing an ally to strengthen his position, an allegation often leveled against South African leaders. The National Police Commissioner highlighted problems he faces in a country with one of the world's highest rates of violent crime.

For story double click on [ID:nLT722383]

ANGLO AMERICAN (AGLJ.J)

South Africa's Solidarity union said on Wednesday Anglo American Plc (AAL.L) plans to shed further jobs in South Africa, and accused the company of adopting a short-term survival strategy.

Anglo Platinum (AMSJ.J), the world's largest platinum producer, has dismissed 11,931 workers since the last part of 2008 in a retrenchment process meant to cope with reduced demand for the metal during the global economic downturn.

Solidarity said in a statement that Angloplat and its main shareholder Anglo American (AAL.L) plan a second wave of job cuts, which the union said showed that the companies had a serious lack of faith in the future.

For story double click on [ID:nLT38992]

FOSCHINI FOSJ.J

South African retailer Foschini Ltd expects to report high single-digit growth in annual headline earnings but a bleak consumer environment will get tougher before it recovers, its CEO said.

Chief Executive Doug Murray told Reuters in an interview on Wednesday sales in the first four months of the company's financial year were growing faster than in the second half of last year, as a revamp of its core Foschini division pays off.

For story double click on [ID:nLT680789]

MURRAY & ROBERTS (MURJ.J)

South African biggest union NUM has declared a wage dispute -- the first step towards a strike -- with Murray & Roberts, which could affect the firms' contract mining unit.

The National Union of Mineworkers has rejected a 9 percent pay increase offer from the company, demanding a 15 percent wage hike.

For story double click on [ID:nLT686274]

GOLD XAU=

Gold prices steadied on Thursday, holding above a two-week low hit the previous day as investors watched the dollar and stocks to gauge risk appetite.

Gold is now 3 percent below the six-week high hit on Monday, as U.S. durable goods orders data dampened optimism about an economic recovery and prompted investors to trim risk assets including commodities and to buy the dollar as a safe haven.

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

WALL STREET

U.S. stocks fell on Wednesday as investors worried that China might be ready to hit the brakes on lending, a move that could curb demand and hinder the global economic recovery.

The Dow Jones industrial average .DJI dropped 26 points, or 0.29 percent, to close at 9,070.72. The Standard & Poor's 500 Index .SPX fell 4.47 points, or 0.46 percent, to 975.15. The Nasdaq Composite Index .IXIC lost 7.75 points, or 0.39 percent, to 1,967.76.

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

- Inflation surprise lifts hopes for rates relief

- Cele vows hard line against criminals

- Congress of the People chief tells of split and offer to resign

BUSINESS REPORT

- Regulator probes long mall leases, exclusivity clauses

- Famous Brand deputy in trouble

- Inflation reduction suprises

THE STAR

- "Cowboy" Cele talks tough

- Crime-buster faces uphill task, researchers believe

(Reporting by Gugulakhe Lourie)