South African Markets - Factors to watch on June 10

JOHANNESBURG, June 10 (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

Commodity-related shares led Asian stocks higher on Wednesday, snapping a two-day decline, after metals and oil prices rallied on a decline in the U.S. dollar and as hopes grew for stronger Chinese industrial demand.

For a story, please double click on [ID:nL9288156]

SOUTH AFRICAN MARKETS

South Africa's rand firmed against the dollar on Tuesday after the central bank announced the appointment of a new deputy govenor and as the dollar fell against other major currencies.

Local stocks rebounded, with the JSE Top-40 index .JTOPI of blue chips gaining 0.44 percent to 20,812.10 points, while the wider All-share index rose 0.44 percent at 23,049.43 points.

For Tuesday's South African financial markets closing report, double click on [ID:nL91010365]

BHP BILLITON (BILJ.J)

Miner BHP Billiton Ltd/Plc (BHP.AX)(BLT.L) has accepted a 58 percent cut in metallurgical coal prices for the current shipping year with key global customers, the company said on Wednesday.

For story double click on [ID:nSYU006668]

MTN (MTNJ.J), VODACOM (VODJ.J)

Kuwait's Mobile Telecomunications Co (ZAIN) (ZAIN.KW) may sell its African business to an unnamed French company for $12 billion, Business Day newspaper said, quoting Kuwaiti paper Al Qabas, which did not provide sources.

MTN, which is in exclusive merger talks with India's Bharti Airtel (BRTI.BO), tried to buy the African network, previously Celtel, four years ago but was pipped by Zain. Both MTN and South Africa's Vodacom (VODJ.J) have been looking for acquisitions in Africa.

Zain shares surged on Sunday on rumours the operator may hand over management of its African operations to a French telecoms firm in return for a stake in the French operator.

NASPERS (NPNJn.J)

E-commerce portal Allegro, a Polish unit of South African Naspers (NPNJn.J), will buy an 18.4 percent stake in Internet portal Bankier.pl BAPL.WA from MCI Management MCIM.WA, MCI said on Tuesday.

For story double click on [ID:nL91047752]

RAINBOW CHICKEN (RBWJ.J)

Rainbow Chicken reports a 40 percent drop in annual headline earnings and said it only expected a substantial fall in feed prices in the second half of the new financial year.

For story double click on [ID:nWEA6214]

GOLD XAU=

Gold rose on Wednesday, supported by its appeal as a hedge against dollar weakness and worries about future inflation risks.

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

WALL STREET

The Nasdaq rose on Tuesday after an improved outlook from Texas Instruments lifted technology stocks, but news that 10 big banks will repay TARP funds failed to stir investor enthusiasm.

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

- Embattled state firms could be sold off - minister

- Mboweni shrugs off union threat

- FirstRand Group (FSRJ.J) appoints first black CEO

- Banks keen on deposit insurance

BUSINESS REPORT

- Mboweni will not intervene in rand trade

- Six foreign banks plan to quit South Africa - PwC

THE STAR

- Gauteng premier gest gough on graft, non-delivery

- Judiciary's independence upheld, Zuma says

(Reporting by Rebecca Harrison)