South African Markets - Factors to watch on March 16

JOHANNESBURG, March 16 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday.

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GLOBAL MARKETS

Asian stocks struck a one-month high on Monday as reassurances over the health of the U.S. banking sector sparked a broad recovery in investor appetite for risk, while safe-haven government bonds also gained on hopes for more central bank buying.

Oil prices tumbled $1.87 a barrel to $44.38 CLc1 as market players questioned whether OPEC's weekend decision to enforce better compliance on previous supply cuts would be enough to offset the drop in global demand.

For a story, please double click on [ID:nSP158540]

SOUTH AFRICAN MARKETS

South African stocks rallied on Friday, rising for a fourth straight day, boosted by higher commodity prices and as upbeat sentiment lifted shares worldwide.

Government bonds firmed on expectations of aggressive interest rate cuts, but the rand's surge since Tuesday ran out of steam.

Johannesburg's Top-40 index .JTOPI leapt 3.25 percent to 17,928.58 points, the best level in three weeks. The All-Share index ended 3.1 percent up at 19,762.03 points.

For Friday's South African financial markets closing report, double click on [ID:nLD704918]

GOLD REEF RESORTS (GDFJ.J)

South African gaming and resorts firm Gold Reef Resorts posted a 9.4 percent drop in full year adjusted headline EPS after trading volumes contracted due to weaker consumer spending.

Gold Reef, which operates casinos such as Silverstar and Queens Casino, said headline earnings per share adjusted for one-off items fell to 136.5 cents in the year to end-December versus 150.7 cents.

For story double click on [ID:nJSEP0001A]

MTN (MTNJ.J)

South African mobile phone operator MTN (MTNJ.J) has launched a money transfer system for unbanked customers in Africa and the Middle East, aiming to boost subscriber loyalty and entice new users.

Africa's biggest mobile operator by subscribers said on Monday it signed a $9.7 million deal with Fundamo, a South Africa-based mobile banking and payment solutions firm, to provide mobile banking facilities.

For story double click on [ID:nLD362037]

S.AFRICA - G20

G20 finance ministers' agreement to give more money to multi-lateral development banks will play a strong role in dealing with the global recession, South Africa's finance minister said.

The G20 finance ministers' communique released on Saturday said there was urgent need to find ways of increasing the resources of multilateral lenders, although the finance ministers failed to come up with any concrete figures.

For story double click on [ID:nLE649026]

ZIMBABWE

Zimbabwe's central bank governor said the country must repay debts to multilateral institutions, restore donor relations and push through economic reforms to end a deep crisis, state media reported on Sunday.

Gideon Gono was quoted as saying Zimbabweans needed to work together to rescue the economy, the strongest signal yet that he is ready to cooperate with Finance Minister and senior MDC official Tendai Biti on the reforms needed to lure donors.

For story double click on [ID:nLF38029]

GOLD XAU=

Gold edged down to around $925 an ounce on Monday, as the U.S. dollar's broad rise before this week's Federal Reserve meeting dulled some of the precious metal's allure as a currency hedge.

A rise in holdings for the world's largest gold-backed exchange-traded fund to a new record high provided support, highlighting continued investor interest in gold. Gold XAU= was at $925.80 an ounce at 0303 GMT, down 0.2 percent from New York's notional close on Friday.

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

WALL STREET

U.S. stocks scored their best week since November on Friday as a broker upgraded Merck & Co (MRK.N), saying its deal to buy a rival was shrewd, and Citigroup (C.N) said it did not need any more government aid.

Merck gave the Dow its biggest boost after Sanford C. Bernstein upgraded the drug maker's stock to "outperform," saying its deal to buy Schering Plough Corp SGP.N would add value at a decent price. For details see [ID:nBNG167235].

The Dow Jones industrial average .DJI gained 53.92 points, or 0.75 percent, to 7,223.98. The Standard & Poor's 500 Index .SPX climbed 5.81 points, or 0.77 percent, to 756.55. The Nasdaq Composite Index .IXIC added 5.40 points, or 0.38 percent, to 1,431.50.

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

- Manuel hopeful of progress on global recovery

- Stressed firms line up for bail-out aid, Bell Equipment (BELJ.J) seeks loan

- Zuma takes to pulpit to convert Rhema flock

- Cell C's Hedberg may be in line for Telkom (TKGJ.J) job

BUSINESS REPORT

- Pamodzi Gold relies on financier with no real roots

- Reserve Bank bucks glbal trend by draining liquidity rom local market

THE STAR

- Zuma's prayers fail to move the Rhema church sceptics

(Reporting by Rebecca Harrison)