South African Markets - Factors to watch on Nov 5

JOHANNESBURG, Nov 5 (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 hit a three-week high and the dollar extended gains after Barack Obama became the next U.S. president, ending uncertainty about who will lead the world's largest economy in the midst of great financial peril.

U.S. Treasuries fell as investors became bolder in taking risk, though U.S. stock futures remained little changed and oil succumbed to profit-taking after signs of global production cuts had sent crude prices up 10 percent on Tuesday.

For a story, please double click on [ID:nSP424957]

SOUTH AFRICAN MARKETS

South Africa's rand strengthened against the U.S. dollar on Tuesday and the local bourse closed higher for a sixth straight session, boosted by commodity stocks and gains in global markets.

The Top-40 index .JTOPI closed 2.57 percent higher at 19,694.66 points, while the broader All-share rose 2.43 percent to 21,649.58 points.

For Tuesday's South African financial markets closing report, double click on [ID:nL456731]

SOUTH AFRICAN ECONOMY

South Africa's central bank vowed on Tuesday to remain focused on its medium term inflation outlook despite the turmoil in global markets that has prompted other countries to adjust interest rates.

It said in its latest Monetary Policy Review that lower commodity prices and easing household spending had reduced pressure on inflation, but a weaker rand was a major threat to the outlook.

For a story, double click on [ID:nL411206]

ARCELORMITTAL SOUTH AFRICA (ACLJ.J)

ArcelorMittal SA (ACLJ.J), the South African unit of the world's No. 1 steel maker, posted a 47 percent rise in third quarter headline earnings on Wednesday, but said it expected fourth quarter earnings to fall.

For a story, double click on [ID:nL5534772]

FIRST URANIUM CORPORATION (FUMJ.J)

First Uranium (FUMJ.J) said on Wednesday it had entered into a letter of intent with Gold Wheaton Corporation for 25 percent of its mine waste solutions tailings recovery operations.

First Uranium is a unit of South Africa's Simmer & Jack Mines (SIMJ.J).

For a story, double click on [ID:nWEA5730]

PALABORA MINING (PAMJ.J)

Palabora Mining (PAMJ.J) is considering building another shaft to its underground copper mine to extend the lifetime of the operation, Managing Director Matt Gili said on Tuesday.

Palabora is 58-percent owned by global miner Rio Tinto (RIO.AX) (RIO.L) and 17-percent by Anglo American (AAL.L).

For a story double click on [ID:nL4153047]

DE BEERS (AAL.L)

De Beers officially opened on Tuesday its Voorspoed mine, which it expects to produce 800,000 carats yearly when in full production, having produced 60,000 carats by October this year.

De Beers, in which miner Anglo American (AAL.L) has a 45 percent stake, has invested 1.3 billion rand ($131.1 million) in the mine located in South Africa's Free State province.

For a story, double click on [ID:nL4715405]

STEFSTOCK (SSKJ.J)

South Africa's Stefstock (SSKJ.J) said on Tuesday it expects first-half headline earnings to be between 85-105 percent higher than the previous corresponding period.

For a story, double click on [ID:nWEB0007]

GOLD XAU=

Gold slipped more than 1 percent on Wednesday as the dollar rose further against other currencies after U.S. media projected a victory by Democrat Barrack Obama in the U.S. presidential election.

Gold XAU= was trading at $751.80 an ounce, down $10.15 an ounce from New York's notional close on Tuesday, having hit an intraday high of $768.00 an ounce.

For the latest precious metals report, double click on [GOL/]

WALL STREET

U.S. stock index futures were little changed on Tuesday after Democrat Barack Obama decisively won the U.S. presidency, eliminating uncertainty over who will guide the world's largest economy through what may be a protracted recession.

The rise in futures suggested that on Wednesday Wall Street might build on Tuesday's rally, the biggest ever for an Election Day.

For the New York stock market report, double click on [.N]

EMERGING MARKETS

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

SOUTH AFRICAN POLITICS

South Africa's Supreme Court of Appeal on Tuesday announced it would hear an appeal later this month of a ruling that threw out corruption charges against ANC leader Jacob Zuma.

The prosecution of Zuma, the frontrunner to become the country's president in 2009, has divided the African National Congress and led to the removal of former President Thabo Mbeki, who was accused of meddling in the case.

For a story, double click on [ID:nL4728118]

SADC SUMMIT

Regional leaders will hold a summit in South Africa on Sunday aimed at breaking a stalemate in negotiations threatening Zimbabwe's power-sharing deal, the Foreign Ministry said on Tuesday.

President Robert Mugabe's ruling ZANU-PF and Morgan Tsvangirai's opposition MDC are deadlocked over cabinet positions in a power-sharing government the two rivals agreed to form on Sept. 15.

For a story, double click on [ID:nL4435162]

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

BUSINESS DAY

- Obama on threshold of historic poll victory: unprecedented turnout sees U.S. draw a line under Bush era

- Commodities stocks rise as dollar suffers election blues

BUSINESS REPORT

- Businessman Dave King breaks silence on war with S.Africa's revenue service

- Competition commission finally settles with American Natural Soda Ash Corporation

THE STAR

- Absa "funding Shikota": Bank scorns allegation by the ANC Youth League (Reporting by Serena Chaudhry)