Monday November 23, 06:16 AM
South African Markets - Factors to watch on Nov 23
JOHANNESBURG, Nov 23 (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
Gold rose more than 1 percent to a record high on Monday as concerns about accelerating inflation and weak economic growth prompted investors to seek relatively safer assets, while supply concerns boosted oil and copper.
Asian stocks also rose, led by gains in Australia thanks to higher resource stocks, although volumes were light with Japan out on holiday.
WALL STREET
U.S. stocks fell for a third straight day on Friday as investors took weaker-than-expected results from computer maker Dell (NASDAQ: DELL - news) and homebuilder D.R. Horton as a further sign that the recovery would be anemic.
GOLD
Gold defied a rebound in the dollar on Monday and powered to a record on safe-haven buying, driven by growing worries about inflation and a drop in U.S. stocks that stirred doubt about the economic outlook.
EMERGING MARKETS
For the top emerging markets news, double click on
SOUTH AFRICAN MARKETS
South Africa's rand gave up some ground against the dollar on Friday, largely reflecting a dip in investors' appetite for risk, while stocks fell across the board, tracking lower world markets.
TELKOM
South African fixed-line operator Telkom reports its first-half results on Monday. It has forecast up to 55 percent fall in headline earnings per share.
AFRICAN BANK
South African mass market lender African Bank (Abil) posted an 11 percent fall in full-year profit on Monday as a recession hit consumer spending, forcing it to tighten its lending criteria.
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Some of the main stories out of the South African press:
BUSINESS DAY
- Avusa takes a knock on interims
- Mvela changes mind about complex unbundling plan
- MPs may take on Treasury on land reform shortfall
BUSINESS REPORT
- Economists wait for vital data on economy's health
- 2.4 billion job rescue plan slow in uptake
THE STAR
- SABC's 400 million rand 2010 ruse
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