South African Markets - Factors to watch on September 2

JOHANNESBURG, Sept 2 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday.

- - - -

EVENTS

- National Association of Automobile Manufacturers releases South Africa's August new vehicle sales data. 0900 GMT

- Reserve Bank Governor Gill Marcus speaks to business people in Soweto about the relationship between business and the Reserve Bank and inflation and economic growth. 1600 GMT

EARNINGS RESULTS

- Discovery Holdings (DSYJ.J), South Africa's largest health insurer, is due to release its full-year results.

- Gold Reef Resorts GDFJ.J, which operates casinos such as Silverstar and Queens Casino, is due to report its half-year results.

GLOBAL MARKETS

Asian stocks rose to a two-week high, with Japan's Nikkei briefly rising more than 2 percent, as strong U.S. manufacturing data further soothed worries about the global economy.

The dollar and the yen began the day on the defensive, while commodities gained, helping make materials shares some of the strongest performers across the region as gold steadied after a two-month top hit on Wednesday. [MKTS/GLOB]

SOUTH AFRICAN MARKETS

South Africa's rand advanced against the dollar on Wednesday on the back of positive sentiment in global markets and local stocks recorded the biggest daily gain in three months.

Local assets shrugged off a public service strike that threatened to drag on for longer as one major union rejected an improved state wage offer with similar industrial action in mining and the automotive sectors. [ID:nLDE6801UB]

GOLD XAU=

Gold prices were slightly firmer on Thursday, and could stay on the rise as global economic prospects remain shaky, while investors watch for more labour data out of the United States.[GOL/]

WALL STREET

Wall Street posted its best day in eight weeks on Wednesday as investor mood brightened after better-than-expected factory data from the United States and China.

Investors jumped on stocks across the market, with more than six shares rising for every one that fell on the New York Stock Exchange, while on the Nasdaq, nearly five stocks rose for every one that fell. The broad Russell 3000 index .RUA had 21 advancers for each declining stock.[.N]

SOUTH AFRICAN STRIKES

South Africa's public sector unions rejected a new pay offer from the government on Wednesday to end a three-week strike but asked for more time to consult their 1.3 million members in Africa's biggest economy.

The majority of unions under a coalition, which included South Africa's largest labour federation COSATU, voted against the new offer, although some smaller unions in the grouping were split in their vote. [ID:nLDE6800TW]

MINERAL RIGHTS

South Africa's mining ministry has examined the granting of two disputed prospecting rights and found no evidence of maladministration or irregularity, the minister said.[ID:nWEA6509]

EMERGING MARKETS

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

- - - -

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

BUSINESS DAY

- Strike set to drag on as COSATU digs in its heels

- Brimstone CEO in building regulation row

BUSINESS REPORT/THE STAR

- Deadly riots rock Mozambique

- New strike offer poser

- JSE stock holdings show BEE lagging

- Pay gap between bosses and workers 'highly contentious'

(Compiled by Vuyani Ndaba and Agnieszka Flak)