Monday June 22, 07:00 AM
South African Markets - Factors to watch on June 22
JOHANNESBURG, June 22 (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 edged up on Monday, supported by buying of defensive sectors, while the U.S. dollar rose on caution ahead of a Federal Reserve meeting this week when policymakers may extend programmes to keep borrowing costs low.
Investors were also watching U.S. Treasury yields, which remained in a rising trend, ahead of a record $104 billion in government bond auctions this week to finance massive rescue spending on the economy.
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SOUTH AFRICAN MARKETS
South African stocks muscled higher for a second day on Friday as some commodity and financial stocks rose in tune with global peers but Sasol slid on a downbeat profit forecast.
The rand gained along with other higher-yielding currencies, recovering some of its losses from the previous day when a bigger than expected current account deficit kept pressure on the unit.
The JSE Top-40 index rose 1.21 percent to 20,191.49 points, its second session of gains after four days of losses, while the All-share index increased 1.07 percent to 22,394.57 points.
For Friday's South African financial markets closing report, double click on
REMGRO
Investment holding company Remgro is due to report its annual results on Monday.
ANGLO AMERICAN (LSE: AAL.L - news) , XSTRATA
Xstrata (LSE: XTA.L - news) wants talks with mining rival Anglo American about a proposed merger of equals worth about $68 billion, seeking increased scale and cost synergies, Xstrata said on Sunday.
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GOLD
Gold was little changed on Monday, hovering around $933 an ounce as the dollar stayed within its recent range, with investors reluctant to chase the metal higher after it fell for three straight weeks.
Spot gold was almost flat at $933.30 an ounce at 0425 GMT from New York's notional close of $933.80 and above a Friday low of $930.45.
For the latest precious metals report, double click on
WALL STREET
The S&P 500 and Nasdaq (NASDAQ: news) rose on Friday as positive broker comments on Microsoft (NASDAQ: MSFT - news) boosted technology shares, but the major averages lost ground for the week for the first time in five weeks.
The Dow Jones industrial average fell 15.87 points, or 0.19 percent, to 8,539.73. But the Standard & Poor's 500 Index added 2.86 points, or 0.31 percent, to 921.23. And the Nasdaq Composite Index rose 19.75 points, or 1.09 percent, to 1,827.47.
For the New York stock market report, double click on
EMERGING MARKETS
For the top emerging markets news, double click on
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Some of the main stories out of the South African press:
BUSINESS DAY
- Anglo American confirms Xstrata merger overture
- ICASA to hold post-mortem on ill-fated Vodacom 'mistake'
- Sasol earnings could fall by half
- Transnet (TRNT.OB - news) warns on funding red tape
BUSINESS REPORT
- Mood of lenders 'is improving', says FNB (NYSE: FNB - news) chief executive officer
- Anglo confirms Xstrata bid, but no deal yet
- South African investigators are considering legal steps to freeze bank accounts linked to Ponzi-type scheme head Barry Tannenbaum.
- Glencore may have own plans for Xstrata
THE STAR
- Police to quiz Egyptian national soccer team
(Reporting by Tiisetso Motsoeneng) (For full Reuters Africa coverage and to have your say on the top issues, visit: http://af.reuters.com) Keywords: MARKETS SAFRICA FACTORS/ Keywords: MARKETS SAFRICA FACTORS/
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