South African Markets - Factors to watch on Sept 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 Wednesday.

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GLOBAL MARKETS

Asian shares pulled back on Wednesday after a sell-off on Wall Street prompted a round of profit-taking, even as upbeat Australian economic growth figures reassured on the health of recovery. Japan's Nikkei average .N225 led losses with a drop of 2.6 percent after a slide in financial shares hit U.S. indexes, while the drop in oil prices the previous day took a toll on resource related shares such as oil-and-gas field developer Inpex (1605.T). Some of Tuesday's sharp moves partially reversed as markets settled down. [ID:nL2405237]

SOUTH AFRICAN MARKETS

South Africa's bourse fell for a second day on Tuesday, knocked by AngloGold after it announced a share issue, but ended off the day's worst levels as manufacturing data in the U.S. lifted confidence about the global economy.

The rand also lost ground, stung late in the session by losses on Wall Street that dented risk appetite, and government bonds slipped on worries about increasing supply of paper.

The JSE Top-40 index of blue chips .JTOPI was down 0.48 percent to 22,280.36 points, after dipping to a low of 22,184.89 points in the session. The broader All-share index lost 0.46 percent to 24,812.20 points. [nL1109830]

SOUTH AFRICA - TAXI STRIKE

South African taxi drivers will meet the government again on Thursday to discuss their opposition to a new rapid bus service and avert a nationwide strike, a union official said on Tuesday.

The South African National Taxi Drivers Council (SANTACO) had threatened to strike over concerns the bus service, launched in Johannesburg this week, would cripple their business.

Meanwhile occupants of a minibus taxi on Tuesday shot at one of the new buses launched in South Africa this week, following a dispute over government plans to upgrade the country's public transport system, which taxi drivers fear will cripple their business. [nL1294822] & [nL113391]

AFGRI LD (AFRJ.J)

Afgri said on Wednesday its full-year headline EPS was up on strong farm output. The company said its profit rose 18 percent to 354 million rand. [nWEA8987]

ARCELORMITTAL SOUTH AFRICA (ACLJ.J)

ArcelorMittal South Africa, a unit of the world's top steel maker, could be fined 10 percent of its annual revenue and exports for fixing prices with other companies, the competition authority said on Tuesday. [nL188486]

BHP BILLITOB (BILJ.J)

Miner BHP Billiton Ltd (BHP.AX) (BLT.L), major shareholder of the Newcastle Coal Industry Group, said on Wednesday it remained committed to long-term reforms designed to ease congestion at Australia's Newcastle coal port. [nSYU007158]

DISCOVERY (DSYJ.J)

Discovery, which owns South Africa's largest health insurer, is due to publish its annual results Wednesday. It expects headline earnings per share for the year to end June to be between 25 to 35 percent higher than the previous corresponding period.

METROPOLITAN (METJ.J)

South African insurer Metropolitan Holdings Ltd (METJ.J) posted a drop in first-half profit on Tuesday as more consumers lapsed on their life insurance policies amidst an economic downturn. Metropolitan said diluted core headline earnings per share for the six months to end June fell 12 percent to 61.54 cents from 70.03 cents in the previous corresponding period. [nL291622]

MTN (MTNJ.J)

South Africa declared support for a proposed tie-up between domestic telecoms operator MTN and India's Bharti Airtel (BRTI.BO) on Tuesday, making the complex cash-and-shares deal more likely to succeed. The South African government said it backed the $23 billion cross-ownership deal that could eventually lead to the creation of the world's third-biggest mobile operator, and which MTN and Bharti have been negotiating since May. [nL1577735]

GOLD XAU=

Gold inched down below $955 on Wednesday, but investors refrained from betting heavily in either direction due to an opaque outlook.

Gold XAU= was at $954.10 an ounce at 0229 GMT, down 0.2 percent from the New York notional close of $955.85. [GOL/]

WALL STREET

U.S. stocks fell for a third straight day on Tuesday, spooked by uncertainty over the health of financials and concerns that the explosive rally since March may have run ahead of economic reality.

The Dow Jones industrial average .DJI tumbled 185.68 points, or 1.96 percent, to close at 9,310.60. The Standard & Poor's 500 Index .SPX fell 22.58 points, or 2.21 percent, to 998.04. The Nasdaq Composite Index .IXIC slid 40.17 points, or 2.00 percent, to 1,968.89. [.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

- Transnet suspends the CEO of its rail freight division

- Crushing antitrust fine looms for ArcelorMittal South Africa

- Public enterprises boss may head for South African Airways

BUSINESS REPORT

- Revenue could fall short of budget by 80 billion rand - economist

- Standard Bank (SBKJ.J) eases lending criteria as risk appetite grows

- Non-compliant directors could be replaced under King 3

THE STAR

- Shootings rock new rapid bus service

- South Africa crime refugee says he simply told it like it is

(Reporting by Gugulakhe Lourie)