RPT-South African Markets - Factors to watch on Oct 20
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JOHANNESBURG, Oct 20 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.
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EVENTS
PRETORIA - Government auctions 800 million rand of 2021 bond ZAR208= and 1.2 billion rand of 2026 bond ZAR186=. 0900 GMT
PRETORIA - South African Grain Information Service (SAGIS) releases data on weekly maize imports and exports. 1000 GMT
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GLOBAL MARKETS
Asian stocks rose to a 14-month high on Tuesday after strong sales numbers from Apple Inc suggested U.S. consumers are spending more and as the weak U.S. dollar kept pushing commodity prices higher.
Oil topped $80 a barrel and gold neared a record high, with the dollar locked in a steep downtrend as investors searched for higher returns elsewhere. [ID:nSP487396]
SOUTH AFRICAN MARKETS
South Africa's blue-chip stocks touched a new 13-month high on Monday, boosted by stronger commodity prices, while the rand firmed against the dollar in late trade, taking its cue mainly from the euro.
The Johannesburg Top-40 index .JTOPI and the broader All-Share index gained 1.78 percent to 23,761.56 points and 1.64 percent to 26,425.06 points, respectively, with traders pointing to a general recovery in global markets. [ID:nLJ124500]
VODACOM (VODJ.J)
South Africa's biggest mobile operator Vodacom (VODJ.J) expects to post a drop in first-half profit due to higher finance charges and a tougher than expected economic environment, it said on Tuesday. [ID:nLK301309]
MERAFE (MRFJ.J)
South African ferrochrome producer Merafe Resources (MRFJ.J) said on Tuesday output at its joint venture with Xstrata (XTA.L) fell 47 percent between January and September compared with the same period last year. [ID:nLK302604]
GOLD XAU=
Gold rose closer to last week's record highs above $1,070 an ounce on Tuesday, as the dollar fell to a 14-month low against a basket of six major currencies, helping bullion maintain its appeal as a currency alternative.
Record speculative net long futures positions, weak physical demand and scrap hitting the markets as prices hover near record peaks are slowing gold's climb back to their highs. [GOL/]
WALL STREET
U.S. stocks rose to fresh 12-month highs on Monday as optimistic investors rode a wave of solid quarterly earnings, which continued after the session's close when Apple Inc's shares jumped on its results.
Earnings from companies, including Gannett Co Inc (GCI.N), which beat analysts' expectations, and positive broker commentary on Caterpillar Inc (CAT.N) further encouraged investors looking for confirmation the economy is healing. [.N]
EMERGING MARKETS
For the top emerging markets news, double click on [nTOPEMRG]
2010 SOCCER WORLD CUP
South Africa fired coach Joel Santana on Monday, less than eight months before the country hosts the 2010 World Cup finals. [ID:nLJ131777]
ZIMBABWE
Zimbabwean Prime Minister Morgan Tsvangirai will meet regional leaders this week to put pressure on coalition partner President Robert Mugabe to settle disputes in the unity government, a senior aide said on Monday. [ID:nLJ104033]
Some of the main stories out of the South African press:
BUSINESS DAY
- S.Africa President Jacob Zuma to settle Cabinet turf war
- Bullish global recovery outlook spurs oil
- Bleak Christmas looms for retail
BUSINESS REPORT
- Government plans to ban heavy freight on secondary roads to shore up rail and protect infrastructure
- Double blow expected to strain consumers' pockets: Reserve Bank unlikely to cut rates; bigger budget deficit also expected next week
THE STAR
- Bafana Bafana coach Joel Santana pays the price
- Fraudster Schabir Shaik seeks presidential pardon (Reporting by Serena Chaudhry)
