South African Markets - Factors to watch on Sept 26

JOHANNESBURG, Sept 26 Mon Sep 26, 2011 1:00am EDT

JOHANNESBURG, Sept 26 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday.

DIARY

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COMPANIES

Avi Ltd , Kap International and Group 5 trade ex-dividend.

SOUTH AFRICAN MARKETS

South Africa's rand jumped more than 2 percent against the dollar on Friday, rebounding from 28-month lows overnight as investors tip-toed back to high-yielding assets they had dumped on a global wave of risk aversion this week.

Government bonds were slower to pick up after a sell-off that has seen net foreign outflows of more than 8 billion rand ($967 million)worth of local debt so far this month, compared with inflows of nearly 11 billion rand in August.

South African stocks ended lower on Friday but bounced off session lows as investors snapped up downtrodden stocks such as ArcelorMittal South Africa.

GLOBAL MARKETS

Asian shares and the euro fell on Monday as investors reacted cautiously to reports that European leaders were working on new ways to stop the fallout from the euro zone sovereign debt crisis wreaking more damage on the world economy.

WALL STREET

The Dow Jones industrial average on Friday suffered its worst week since the depths of the financial crisis in 2008, stung by severe anxiety over Europe's spiraling debt crisis and a warning from the Federal Reserved about the U.S. economy.

But stocks ended higher on Friday after a disastrous four days of selling, which helped push down the S&P 500 index 6.6 percent for the week.

For the week, the Dow dropped 6.4 percent for its worst weekly performance since October 2008 and the Nasdaq lost almost 5.3 percent

GOLD

Gold and silver prices tumbled on Monday, led by a nearly 10 percent drop in spot silver prices , as investors liquidated their positions on fears of an impending recession.

Spot gold fell more than 3 percent to $1,604.29 an ounce, wiping off gains over the past two months.

EMERGING MARKETS

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

BUSINESS DAY

- Tanzania not rushing mines tax.

- Global demand for copper, especially in China, is putting pressure on the Gautrain, which has lost millions through cable theft, the CEO of the Gautrain Management Agency says.

BUSINESS REPORT

- Kumba employees to get 500,000 rand ($60,400) windfall: employee share option scheme described as "exceptionally generous." ($1 = 8.273 South African Rand) (Compiled by Ed Stoddard)