South African Markets - Factors to watch on Oct 21

JOHANNESBURG, Oct 21 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.

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GLOBAL MARKETS

Asian stocks rose on Tuesday, boosted by signs that government efforts to push down short-term lending rates were working and comments by Federal Reserve Chairman Ben Bernanke backing more government spending to stimulate the ailing U.S. economy.

Oil prices climbed back above $75 a barrel on expectations OPEC will cut output to boost prices, which have fallen nearly 50 percent in the last three months, at a meeting on Friday.

For a story, double click on [ID:nLL675944]

SOUTH AFRICAN MARKETS

South Africa's rand weakened as much as 2 percent against the dollar on Monday, reflecting how a wide current account gap has left it vulnerable to the volatility triggered by the global credit crisis.

Domestic stocks however closed more than 3 percent firmer, tracking global equity gains.

At 1557 GMT the rand ZAR=D3 traded at 10.1950 against the greenback after sinking to 10.2425 earlier, compared to Friday's close in New York at 10.04.

The Johannesburg Top-40 index of blue-chip stocks .JTOPI gaining 3.18 percent to 18,882.17 points while the All-share index rose 2.64 percent to 20,670.55 points.

For Monday's South African financial markets closing report, double click on [ID:nLK487364]

SOUTH AFRICAN ECONOMY

South Africa's Finance Minister Trevor Manuel is expected to cut growth forecasts on Tuesday as Africa's biggest economy braces for the ripple effects of a global credit crisis and slowing world growth.