South African Markets - Factors to watch on Dec 24

JOHANNESBURG Dec 24 (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 rose on Thursday led by gains in technology shares, while the U.S. dollar edged further away from recent peaks after an unexpected drop in U.S. home sales cooled optimism about the economic recovery.

The MSCI index of Asia Pacific stocks outside Japan .MIAPJ0000PUS rose 1 percent but trading was thinned ahead of the Christmas and New Year holidays. The Shanghai Composite Index .SSEC led the regional gains, jumping 1.9 percent and extending its rebound from its lowest in seven weeks hit on Tuesday. [ID:nSGE5BN038]

SOUTH AFRICAN MARKETS

South Africa's rand firmed over 1 percent against the dollar on Wednesday, tracking the euro and also boosted by exporter orders in a thin market while the resource-heavy bourse slightly came off a near 17-month high.

The JSE Top-40 index .JTOPI of blue chips closed 0.13 percent lower to 24,997.94 points, reversing four days in a row of gains, while the All-share index .JALSH lost 0.05 percent to 27,607.92 points. [ID:nLDE5BM195]

GOLD XAU=

Gold prices inched up closer to $1,100 per ounce on Thursday as a recent drop to seven-week lows spurred some bargain hunting in a holiday-thinned market.

Spot gold XAU= rose 0.9 percent to $1,096.30 as of 0322 GMT, compared to New York's notional close of $1,087.00 per ounce. [GOL/]

WALL STREET

Technology shares rose on Wednesday after solid earnings from Micron Technology and Red Hat, but an unexpected drop in new home sales kept a lid on the broader market's gains.

The Dow Jones industrial average .DJI inched up 1.51 points, or 0.01 percent, at 10,466.44. The Standard & Poor's 500 Index .SPX added 2.57 points, or 0.23 percent, to 1,120.59. The Nasdaq Composite Index .IXIC climbed 16.97 points, or 0.75 percent, to 2,269.64. [.N]

EMERGING MARKETS

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

ZAMBIA

India's Bharat Sanchar Nigam Ltd [BSNL.UL], Angola's Unitel and Libya's LAP Green Networks have submitted bids to acquire Zamtel, Zambia's fixed-line telephone operator.

"We have received three bids. We had eight companies that had prequalified and they were all given a chance to do due diligence and make proposals," Zambia Development Agency (ZDA) acting director general Muhabi Lungu said after the opening and closing of the bids. [ID:nLDE5BM0EF]

ZIMBABWE

Swiss food company Nestle (NESN.VX) has suspended operations in Zimbabwe, complaining of harassment after it pulled out of a deal to buy milk from a farm taken over by President Robert Mugabe's family.

Nestle said it received an unannounced visit from government officials and police on Dec. 19 and was forced to accept a milk delivery from non-contracted suppliers. Two of its managers were questioned by police and released without charge the same day. [ID:nLDE5BM087]

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

BUSINESS DAY

- Union finds "irregularities" at South Africa's air safety watchdog

BUSINESS REPORT

- Pebble bed modular nuclear reactor moves closer to green light

- FirstRand (FSRJ.J) founders sell 400 million rand stake to bosses

THE STAR

- 14 Airlink planes grounded

(Reporting by Gugulakhe Lourie)