Friday July 31, 07:00 AM
South African Markets - Factors to watch on July 31
JOHANNESBURG, July 31 (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 pushed higher on Friday and were poised to score double-digit gains in July as investors keep pouring funds on bets the region's growth engine will lead the global economy out of recession.
The MSCI index of Asia-Pacific (002790.KS - news) stocks outside Japan rose 1.4 percent to reach an 11-month high and the highest level since just before the collapse of U.S. investment bank Lehman Brothers (NYSE: LEH - news) .
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SOUTH AFRICAN MARKETS
South African stocks hit a fresh 10-month closing high on Thursday as miners rallied on buoyant metal prices and slower than expected factory gate inflation helped boost banks.
The JSE Top-40 index of blue-chip stocks gained 2.25 percent to 21,723.94 points, breaking three sessions of losses and striking the highest closing level since last September, while the broader All-share index rose 2.03 percent to 24,067.41 points.
For Thursday's South African financial markets closing report, double click on
SOUTH AFRICAN ECONOMY
South Africa's council workers union said on Thursday wage negotiations had made progress but no deal has been reached and a strike will be extended, keeping up pressure on President Jacob Zuma.
When asked if the strike would continue for a fifth day on Friday, the general-secretary of council workers union SAMWU, Mthandeki Nhlapo, said: 'Yes'.
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SOUTH AFRICAN POLITICS
South Africa's new president Jacob Zuma will make his first state visit to Angola in August, his spokesman said on Thursday, a trip that could open up opportunities with the oil producing country. Zuma's visit may pave the way for South African firms to invest in Angolan banking, mining, agriculture and construction.
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MTN GROUP
MTN, Africa's biggest mobile operator by subscribers, is expected today to make an announcement regarding its exclusive merger talks with India's Bharti Airtel.
MTN and India's leading cellular firm Bharti Airtel were in revived exclusive talks until July 31.
VODACOM
Vodacom, South Africa's biggest mobile phone operator, is hold its annual general meeting today.
ANGLO AMERICAN (LSE: AAL.L - news)
Anglo American Plc, which produces platinum, iron ore, coal and copper, is expected to post a 72 percent fall in underlying earnings per share to $0.81, pressured by weak commodity prices, analysts said.
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ANGLOGOLD ASHANTI
AngloGold, the world's No. 3 and Africa's top gold producer, is due to report Q2 earnings and production figures on Friday.
AngloGold was expected by analysts to post adjusted headline EPS of 37 U.S. cents in its second quarter to the end of June, versus 42 cents in the first quarter.
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AQUARIUS PLATINUM (LSE: AQP.L - news)
Aquarius Platinum Ltd, the world's fourth-biggest producer of platinum, will report fourth quarter production results on Friday.
STANDARD BANK
Africa's biggest banking group, Standard Bank Group, expects to report a 30-35 percent drop in first-half earnings per share, the company said on Thursday. It said in a brief trading statement that normalised headline earnings for the six months to end June will fall 20-25 percent, while normalised headline earnings at its banking activities would dip 10-15 percent.
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ARCELORMITTAL SOUTH AFRICA
ArcelorMittal South Africa, a unit of the world's largest steel maker, on Thursday said it would raise prices for some of its flat steel products by between 250-750 rand ($32-96) per tonne from September.
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GOLD
Gold rose towards $940 on Friday as it continued to benefit from a weaker U.S. dollar, which has lost its allure as a safe-haven asset amid hopes for an economic recovery stoked by solid corporate earnings.
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WALL STREET
U.S. stocks rose on Thursday as solid corporate profit reports and a drop in the number of Americans on jobless benefits gave investors reasons to buy equities following the S&P 500's two days of losses.
The Dow Jones industrial average added 83.74 points, or 0.92 percent, to close at 9,154.46. The Standard & Poor's 500 Index rose 11.60 points, or 1.19 percent, to 986.75. The Nasdaq Composite Index gained 16.54 points, or 0.84 percent, to 1,984.30.
The S&P 500 is up 45.9 percent from the 12-year closing low of March 9, but it's still down 37.4 percent from its record high close in October 2007.
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
- Producer prices beat a sharp retreat
- South Africa's new tax chief vows to get tough
- Big choice of candidates to fill posts on Constitutional Court
BUSINESS REPORT
- Government cannot fix health care alone - ANC
- Prices of food leaving farms fall, raising hopes that the trend will reach shelves
THE STAR
- Mixed views on municipal wage deal claims
(Reporting by Gugulakhe Lourie) (For full Reuters Africa coverage and to have your say on the top issues, visit: http://africa.reuters.com) Keywords: MARKETS SAFRICA FACTORS/
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