South African Markets - Factors to watch on Nov 9
JOHANNESBURG |
JOHANNESBURG Nov 9 (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 currencies rose on Monday as investors bet that a surge in the U.S. unemployment rate to a 26-1/2-year high would force policymakers to keep many stimulus measures in place until an economic recovery was on more solid footing. [ID:nSP425501]
ZIMBABWE
Zimbabwean Prime Minister Morgan Tsvangirai's ally Roy Bennett goes on trial accused of terrorism on Monday in a case that has stoked tensions in the unity government of Tsvangirai and President Robert Mugabe's ZANU-PF. [ID:nL8280772]
SOUTH AFRICAN MARKETS
South Africa's rand advanced to a one-week high against a wobbly dollar on Friday and as gold traded near record highs, which also boosted local stocks.
The Johannesburg Top-40 index .JTOPI gained 0.17 percent to 23,336.95 points, while the broader All Share index .JALSH added 0.14 percent to 25,933.45 points.[ID:nL640157]
RAUBEX (RBXJ.J)
South African road construction group Raubex Group Ltd (RBXJ.J) on Monday reported a 10.2 percent rise in first-half headline earnings per share and said it expects a strong performance in the second half. [ID:nL9333876]
LEWIS (LEWJ.J)
South African furniture retailer Lewis Group Limited (LEWJ.J) posted a drop of nearly 4 percent in first-half profit as the recession in Africa's biggest economy hit consumer spending. [ID:nL9332588]
VODACOM (VODJ.J)>
South African wireless phones carrier Vodacom releases its first half results on Monday. It has forecast a drop of between 10-20 percent.
GOLD XAU=
Gold powered to another record high on Monday on safe-haven buying as the U.S. dollar slipped and after a weaker-than-expected U.S. unemployment rate revived worries about the health of the global economy. [GOL/]
WALL STREET
U.S. stocks rose 3 percent for the week after ending Friday's session slightly higher, shrugging off government data showing the unemployment rate hit 10.2 percent -- the highest in 26-1/2 years. [.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
- Health Department springs dispensing levy surprise
- Moderate results expected from Sappi (SAPJ.J)
- Seardel (SERJ.J) urges state aid for textile sector
BUSINESS REPORT
- Wasteful spending gets attention
- Speculation mounts over Eskom's Jacob Maroga's probable successor
- GDP calculations to include bootleggers, drug dealers
THE STAR
- Country is asleep, Kasrils says of spy-tape report
(Reporting by Tiisetso Motsoeneng)
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