South African Markets - Factors to watch on Oct 27

JOHANNESBURG Oct 27 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.

GLOBAL MARKETS

Asian shares followed Wall Street lower on Tuesday with resources stocks under pressure as the price of oil stayed below $79 and with investors growing increasingly worried about the recovery of the world economy.

Japan's Nikkei index .N225 was down 1.3 percent with shares in Mitsubishi (8058.T) skidding 4.3 percent as trading houses were hurt by lower oil and commodity prices in the past day. [ID:nSP477878]

SOUTH AFRICAN ECONOMY

South Africa's national planning minister Trevor Manuel said on Monday he was not all-powerful in setting economic policy. [ID:nLQ411915]

SOUTH AFRICAN MARKETS

South Africa's rand fell to a 3-week low against the dollar on Monday on worries that Finance Minister Pravin Gordhan will announce a bigger fiscal deficit while bond yields rose to 3-month highs.

On the bourse, shares rose for a sixth straight session as a weaker rand buoyed resource shares.

The Johannesburg Top-40 index .JTOPI gained 0.41 percent to 24,237.19 points, while the broader All-Share index .JALSH added 0.4 percent to 26,910.08 points. [ID:nLQ694505]

SOUTH AFRICAN POLITICS

South African opposition party COPE accused the government on Monday of bowing to pressure from left-leaning unions and shifting economic policy towards more socialist agendas. [ID:nLQ164822]

GOLD XAU=

Gold steadied above $1,040 per ounce on Tuesday as a rally in the dollar paused, soothing concern among investors who rushed to sell the precious metal the previous day on a jump in the greenback from a 14-month low versus the euro.

Bullion hit a low of $1,036 earlier on Tuesday, its lowest price since Oct. 6, as it fell about 3 percent from a record high above $1,070 hit on Oct. 14. [GOL/]

WALL STREET

U.S. stocks fell for a second straight session on Monday as investors ditched home builders and financials on fears lawmakers may let a federal home buyer tax credit expire, while commodity shares succumbed to pressure from the higher U.S. dollar.

Trading was choppy. Stocks initially started on firmer footing, with indexes up more than 1 percent shortly after the open, but the bounce quickly faded as the U.S. dollar rebounded and investors fretted about the financial sector's prospects. [.N]

EMERGING MARKETS

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

ZIMBABWE

Zimbabwe's political crisis deepened on Monday after the first meeting between President Robert Mugabe and Morgan Tsvangirai since the prime minister's MDC party boycotted the unity government, an MDC spokesman said.

Spokesman Nelson Chamisa said the Movement for Democratic Change and Mugabe's ZANU-PF were "worlds apart" after the two old foes met to try to end a stalemate that raises further questions over their ability to rebuild a ruined economy. [ID:nLQ245051]

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

BUSINESS DAY

- Business index points to South Africa beating recession this year

- Troubled Adcorp (ADRJ.J) launches second probe

- Zimbabwe's Tsvangirai, Mugabe fail to make up

BUSINESS REPORT

- Labour broking set to be banned early next year

- Accusations fly at Adcorp as whistle-blower seeks recall

- World Cup fans will smell our coffee, says Famous Brands (FBRJ.J)

THE STAR

- Four accused of allegedly racist Reitz initiation video want to say sorry

- Driver gets 18 months for jumping red light (Reporting by Serena Chaudhry)