South African Markets - Factors to watch on Aug 13

JOHANNESBURG Aug 13 (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 stocks and commodities rose on Thursday after the Federal Reserve said the ailing U.S. economy was showing signs of "leveling out", spurring investors to buy back shares and other riskier assets and sell U.S. dollars.

Commodity bulls pushed oil prices further above $70 a barrel and lifted copper prices to a 10-month high, hoping for sustained demand for raw materials. [ID:nSP292313]

SOUTH AFRICAN MARKETS

South Africa's rand reversed losses against the dollar on Wednesday, turning slightly firmer partly on news the country's biggest union has suspended a wage strike that could have hurt the economy.

But local stocks slipped for a second session as weak retail sales data hit shopping chain stocks and industrial conglomerate Bidvest (BVTJ.J) slumped after forecasting lower profit.

The JSE Top-40 index .JTOPI of blue-chip stocks shed 0.22 percent to 22,231.02 points, bouncing off session lows after Wall Street opened stronger. The All-share index .JALSH dipped 0.38 percent to 24,588.45 points. [ID:nLC735901]

ANGLO AMERICAN (ANGJ.J)

Anglo American PLC on Thursday announced it successfully exited from Tongaat Hulett (TONJ.J) shareholding, realising gross proceeds of approximately $523 million. It said it completed the sale by way of accelerated bookbuild of 51.2 million Tongaat Hulett ordinary shares placed with qualifying institutional investors at a price of 82 rand per ordinary share. [ID:nLD341930]

SASOL (SOLJ.J)

South Africa's Sasol (SOLJ.J) sold gas and condensate worth $230 million from its Pande/Temane natural gas project in Mozambique between 2004 and the end of last year, state-run Radio Mozambique reported on Wednesday. [ID:nLC4965]

STANDARD BANK (SBKJ.J)

Standard Bank Group, Africa's biggest bank by assets, posted a drop in first-half profit on Thursday as impairments soared and said it expected 2009 earnings to be lower than 2008. Standard Bank, 20 percent owned by Industrial and Commercial Bank of China (601398.SS) (1398.HK), said normalised headline earnings for the six months to end June dropped 27 percent to 351.3 cents, in line with its forecast of a 25-30 percent fall.

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SOUTH AFRICA - STRIKES

South Africa's biggest union said on Wednesday it had suspended a strike set for Thursday at state power firm Eskom that could have led to power cuts and further damage to Africa's biggest economy.

The rand ZAR=D3 firmed after news of the suspension, which the National Union of Mineworkers (NUM) said would allow negotiations over the issue of a housing allowance. [ID:nLC664093]

GOLD XAU=

Gold inched up to trade around $950 on Thursday, approaching the previous day's high after the Federal Reserve said it would keep interest rates near zero, although further gains in gold were seen likely to be capped.

The U.S. central bank also made its clearest statement to date on Wednesday that it sees the recession nearing an end and shattered financial markets are healing. [ID:nN1272730]

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

WALL STREET

U.S. stocks powered higher on Wednesday as the Federal Reserve said it saw signs of a more stable economy.

Stocks had been on track to close at their highest level in 10 months, led by technology and financials, but shares lost steam in the last half hour of trading.

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

- Namibian exports pose threat to South Africa's fishing industry

- Retail still in trouble after 6.7 pct sales slide

- Gauteng Premier Nomvula Mokonyane to act against corruption

BUSINESS REPORT

- Economists see glint of light at tunnel's end

- Acting Transnet [TRAN.UL] board chairman faces uphill struggle

- SABMiller (SAB.L) witch-hunt causes stir among investors

THE STAR

- "No one called 10111": policemen defend their response to family fire tragedy

- Obama hails Tutu at medal ceremony (Reporting by Serena Chaudhry)