South African Markets - Factors to watch on Oct 10

JOHANNESBURG, Oct 10 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday.

- - - -

GLOBAL MARKETS

Asian stocks plunged on Friday, with Japan's Nikkei down more than 10 percent, while the yen and U.S. Treasury debt prices rose, as panic set in after global efforts so far failed to unlock credit markets.

A synchronised cut in borrowing costs by central banks around the world this week was seen as too little, too late, and investors doubted a meeting of the Group of Seven rich nations later on Friday could achieve much, with fears growing that the global economy is headed towards recession.

U.S. government debt and the yen have become refuges from the worsening financial crisis that overnight knocked the U.S. S&P 500 stocks index .SPX down 7.6 percent to a 5-year low. But cash was ultimately king, with even Japanese government bonds being liquidated for funding.

Fears of a sharp slowdown in demand for raw materials from heavy consumers like China and the United States dragged oil prices down to a 12-month low below $83 a barrel.

For story double click on [ID:nSP375298]

SOUTH AFRICAN MARKETS

Improved risk appetite in global markets helped South Africa's rand to firm against the dollar on Thursday despite interest rates being held at 12.0 percent, while mining shares boosted local stocks.

The rand ZAR=D3 was trading at 9.00 against the dollar at 1550 GMT, about 2.6 percent stronger than its last New York close of 9.24, off its session high of 8.9195 and well away from the near 7 year low of 9.45 hit on Wednesday.

Analysts said the return of some calm in global markets was the main driver for currency markets.

For Thursday's South African financial markets closing report, double click on [ID:nL981742]

SOUTH AFRICAN ECONOMY