South African Markets - Factors to watch on Nov 6

JOHANNESBURG, Nov 6 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday.

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GLOBAL MARKETS

Asian stocks dropped nearly 7 percent and commmodity-related currencies tumbled on Thursday as more evidence the U.S. economy is shrinking made investors brace for a potentially deep and lasting global recession.

After toying for several days with raising their threshold for risk by buying beaten-down shares, investors were overwhelmed by fears that far-reaching consequences from such a sharp slowdown in developed economies were still unfolding.

Wall Street institution Goldman Sachs Group Inc (GS.N), which had early in the financial crisis profited on bets against the U.S. mortgage market, reportedly laid off 3,200 employees this week, and the Bank of England and the European Central Bank were expected to cut interest rates aggressively to shore up their economies. [ID:nL5379690]

For a story, please double click on [ID:nSP125496]

SOUTH AFRICAN MARKETS

South African stocks fell on Wednesday, weighed down by resource and banking stocks after six straight days of gains, though tentative improvement for global emerging markets boosted the rand and bonds.

The JSE Securities Exchange's blue chip Top-40 index .JTOPI closed 3.52 percent lower at 19,000.93 points, while the broader All-share skidded 3.23 percent to 20,950.98 points.

For Wednesday's South African financial markets closing report, double click on [ID:nL5699010]

ANGLO PLATINUM (AMSJ.J)

South Africa's Anglo Platinum (Angloplat) (AMSJ.J), the world's biggest producer of the metal, said on Wednesday it would lose up to 200,000 ounces of refined platinum after shutting down its Polokwane smelter.

For a story, double click on [ID:nL5340795]

MEDI-CLINIC (MDCJ.J)

South African hospital group Medi-Clinic (MDCJ.J) said on Wednesday its headline earnings per shares fell by 43 percent to 51.2 cents for the six months to September.

Medi-Clinic said headline EPS was impacted by higher finance charges and additional shares from a rights issue.

For a story, double click on [ID:nL5238628]

GOLD XAU=

Gold extended a 2-percent drop in New York on Thursday, erasing some of this week's gains as the U.S. dollar rose against the euro ahead of an expected rate cut and reduced bullion's appeal as an alternative investment.

Dealers also awaited the release of U.S. nonfarm payrolls data on Friday, which could further stoke fears of a global recession and drive investors into less volatile assets.

Gold XAU= was trading at $738.65 an ounce, down $1.95 an ounce from New York's notional close on Wednesday, when it dropped around $20 due to a firmer dollar and tumbling oil.

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

WALL STREET

U.S. stocks plummeted on Wednesday, a day after Barack Obama's historic victory in the U.S. presidential election, as a fresh batch of dismal economic data underscored the massive challenges awaiting his administration.

The drop marked Wall Street's biggest loss ever on the day after a presidential election, coming immediately on the heels of its biggest Election Day rally on record in the previous session. For more details, see FACTBOX [ID:nN05319714]

Selling hit across the board, with shares of big manufacturers, including Boeing (BA.N), as well as banks, technology companies, home builders, retailers and energy companies among the biggest casualties.

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

- Global slowdown to test U.S. president-elect Barack Obama's mettle

- S.Africa has to find 22,000 more accountants, institute warns

- S.Africa business confidence plunges

BUSINESS REPORT

- Labour federation COSATU's general secretary Zwelinzima Vavi seeks legislated social rule for pension funds

- Sinking BEE deals "will plunge banks too" -analyst

- Analysts welcome Nhlanhla Nene's selection as S.Africa's deputy finance minister

THE STAR

- Barack Obama to the future: U.S. president-elect faces huge challenges in U.S. and abroad

- Achieve your dream, urges former South African President Nelson Mandela (Reporting by Serena Chaudhry)