South African Markets - Factors to watch on Nov 28

JOHANNESBURG, Nov 28 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday.

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GLOBAL MARKETS

Asian stocks edged up in quiet trade on Friday, as investors sifted through the remains of a record sixth consecutive month of falls for global equity markets, hoping to find some bargains as 2008 winds down.

The MSCI index of Asia Pacific stocks outside of Japan .MIAPJ0000PUS climbed 1.3 percent, putting in on track for a sixth day of gains. The index was still locked in a steep downward trend that has knocked it down about 57 percent so far this year. Hong Kong's Hang Seng index .HSI rose 2 percent, led by China Mobile (0941.HK), whose recent gains and been lower than the broader market.

For a story, please double click on [ID:nSP258256].

INDIA

India's stock market and the rupee fell on Friday and government bond yields inched up as trading resumed after deadly attacks in the financial capital, Mumbai, which shut its markets for a day and killed at least 121 people.

The benchmark share index .BSESN dropped 1.5 percent at the start of trade but then recouped some losses to stand 0.6 percent down from its previous close on Wednesday, at 8,993.17 points.

For a story, please double click on [ID:nBOM264249].

SOUTH AFRICAN MARKETS

South African stocks raced higher for the fifth straight day on Thursday, buoyed by firmer European equities and local inflation data backing an interest rate cut, while the rand firmed slightly in a quiet session.

The Johannesburg Top-40 index of blue-chip stocks .JTOPI climbed 4.58 percent to 19,459.59 points while the All-share index rose 4.04 percent to 21,301.01 points, boosted by a strong previous session on Wall Street and gains in Europe.

For Thursday's South African financial markets closing report, double click on [ID:nLR387854].

SOUTH AFRICAN ECONOMY

South Africa's inflation outlook has improved and it is hoped that an easing since August is the start of a consistent downward trend, central bank Governor Tito Mboweni said on Thursday.

He also said in a speech at a diplomats dinner that while the local banking system had largely escaped the global credit crisis, the real economy was not immune and that policy-makers must take slower growth into account. South Africa's consumer and producer inflation eased more than expected in October, data showed this week, which together with slowing growth has raised speculation of a cut in interest rates.

For a story, please double click on [ID:nLR308041].

SOUTH AFRICAN POLITICS

South African ruling party leader Jacob Zuma said on Thursday national elections would be held in the first quarter of 2009 and pledged there would be no major changes to the government's pro-growth policies.

Zuma, the frontrunner to be the next South African president, has stirred unrest among investors with his strong backing from trade unions and the small but influential South African Communist Party.

The African National Congress leader has pushed for a stronger government role in fighting poverty and unemployment but has also said that there will be no dramatic changes in the country's pro-business fiscal programme.

For a story, please double click on [ID:nLR51000].

GOLD XAU=

Gold slipped to track lower oil prices on Friday, with speculators careful ahead of an OPEC consultative meeting which could support bullion if the group agrees to cut oil output.

Gold XAU= was trading at $812.55 an ounce, down $2.05 from Thursday's levels, and off a six-week high of $830.10 hit on Tuesday. It has bounced nearly 20 percent since tumbling to a 13-month low of $680.80 last month.

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

WALL STREET

U.S. markets closed on Thursday for Thanksgiving holiday.

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

- South Africa's Xstrata (XTA.L) in rights row with former minister of minerals and energy.

- Water paper "offensive to struggle" - Council for Scientific and Industrial Research.

BUSINESS REPORT

- Now mining consultants are feeling the pinch.

- Producer Price Index points to more price falls to come.

THE STAR

- Zimbabwe crisis deepens as Movement for Democratic Change quits talks.

- South Africa heroes in Mumbai rescue.

(Reporting by Gugulakhe Lourie)