Tuesday July 28, 09:47 AM
South African Markets - Factors to watch on July 28
JOHANNESBURG, July 28 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.
- - - -
GLOBAL MARKETS
Asian stocks were steady on Tuesday, as investors took a breather after lifting shares some 16 percent in the last two weeks, though the profit-taking urge was contained by a jump in U.S. new home sales and hopes for solid corporate results in the region.
SOUTH AFRICAN MARKETS
South African stocks softened a touch on Monday after scaling a 10-month high last week but Lonmin (LSE: LMI.L - news) gained on a broker upgrade and the rand edged firmer, brushing off a public service strike.
The JSE Top-40 index of blue-chip stocks dipped 0.1 percent to 21,558.64 points, after see-sawing in and out of negative territory for much of the session. The All-share index slipped 0.05 percent to 23,931.64 points.
SOUTH AFRICAN ECONOMY
Statistics South Africa releases Quarterly Labour Force Survey with Q2 unemployment data at 0930 GMT.
AECI
South African chemicals and explosives firm AECI Ltd posted a 68 percent fall in first-half headline earnings per share (EPS), hit by a 'significant' decline in volumes.
ANGLO AMERICAN (LSE: AAL.L - news) , HULAMIN
Mining group Anglo American Plc sold its remaining stake in South Africa's Hulamin Ltd, bringing the transaction to a total of 1.16 billion rand ($149.4 million), it said on Monday.
ANGLOGOLD ASHANTI
Moto Goldmines Ltd has backed a takeover offer by African miners Randgold Resources Ltd (LSE: RRS.L - news) and AngloGold Ashanti, saying it is superior to a competing offer.
BASIL READ
South African construction firm Basil Read expects to report a 25-35 percent rise in first half headline earnings per share, it said on Monday.
INVESTEC
Anglo-South African investment bank Investec (LSE: INVP.L - news) unveiled an equity placing of up to 22 million shares on Tuesday to repurchase debt and improve it tier 1 capital
MONDI (LSE: MNDI.L - news)
South African based paper maker Mondi expects first half underlying earnings per share to be between 5-10 euro cents from 24.8 cents reported in 2008.
GOLD
Gold was little changed on Tuesday, holding above $950 but off the previous day's 6 and half week high, as caution returned after prices neared the $960 mark.
Gold has mostly moved in a range of $945-$960 per ounce for the past week with strong technical resistance towards the $960 level, which was last touched on June 11. Gains have also been capped by weak physical demand.
For the latest precious metals report, double click on
WALL STREET
U.S. stocks rose slightly on Monday in a late rally as investors rotated into financial shares, which had lagged in the recent two-week run-up.
Upbeat data on new home sales underpinned financial stocks, the session's strongest sector, and prompted investors to snap up the shares of several regional banks, which had been among the worst hit by credit losses tied to a weak housing market.
For the New York stock market report, double click on
EMERGING MARKETS
For the top emerging markets news, double click on
- - - -
Some of the main stories out of the South African press:
BUSINESS DAY
- Anglo American up against it as profit flops at AngloPlat
- Famous Brands buys Mugg & Bean
- South Africa weathers global slump well-Fitch
BUSINESS REPORT
- 44 billion rand ($5.67 billion) worth of platinum projects on hold
- Locals must benefit from mining - study
- S&P not as upbeat on deficit as other agencies
THE STAR
- Cape Judge President John Hlophe, accusers in Constitutional Court race.
(Reporting by Tiisetso Motsoeneng) (For more Reuters Africa coverage and to have your say on the top issues, visit: http://af.reuters.com) ($1=7.795 Rand) ($1=3.673 Uae Dirham) ($1=7.764 Rand) Keywords: MARKETS SAFRICA FACTORS/
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
