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(AFX UK Focus) 2008-11-04 05:54
South African Markets - Factors to watch on Nov 4
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JOHANNESBURG, Nov 4 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.

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GLOBAL MARKETS


Japan's Nikkei index rose nearly 4 percent on Tuesday, as exporters gained on the yen's recent weakness, though other markets were down after reports pointed to a shrivelling U.S. economy ahead of the presidential election.
The elimination of uncertainty surrounding the election could provide a short-term boost to the dollar and equities though the longer-term impact on investor sentiment, especially with regard to rescue policies shaped only in the last several weeks, was unclear.
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SOUTH AFRICAN MARKETS


South Africa's rand steadied against the dollar on Monday as fears of a global slowdown kept investors cautious towards the currency while stocks ended in positive territory.
The Johannesburg's Top-40 index of blue chips closed 0.63 percent higher to 19,201.28 points, completing a fith day of gains in a row. The broader All-Share index was up 0.68 percent to 21,135.27 points.
The rand was trading at 9.85 to the dollar at 1532 GMT, from a New York close of 9.86 on Friday. The currency firmed to 9.64 earlier but retreated in late Johannesburg trade as investors turned their backs on emerging markets.
For Monday's South African financial markets closing report, double click on

SOUTH AFRICAN ECONOMY


October new vehicle sales data due at 0900 GMT.
South African Reserve Bank releases monetary policy review at 1530 GMT

LONMIN


Lonmin Plc, the world's No. 3 platinum producer, advised trade unions of possible lay offs due to a big drop in demand for the metal from car makers, South Africa's Solidarity union said on Monday.
Union spokesman Jaco Kleynhans also quoted Lonmin as saying in a letter dated Oct. 24 that it would present a revised structure of a "more effective and smaller Lonmin" to its employees, but gave no further details.
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PALABORA MINING


Palabora Mining Ltd (Palamin) copper mine expects flat earnings or a small profit in the fourth quarter if the metal price stays at current levels, the manager of the underground mine said late on Monday.
But Dawid Pretorius also said the profit would be lower than the the previous quarter. Palabora is 58-percent owned by global miner Rio Tinto and 17-percent by Anglo American.
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ASTRAL FOODS


South African Astral Foods said on Monday its first-half headline and attributable earnings per share would fall between 35 to 40 percent versus a year ago, sending its shares tumbling.
Shares in Astral lost 6.82 percent to 82 rand against a 0.31 percent rise in the All Share index.
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DRDGOLD


DRDGOLD said on Tuesday there was currently no drilling or blasting at the ERMP gold mine near Johannesburg for safety reasons. The firm said initial indications are that installing extra pumping capacity at the mine would be costly and would take several months to implement.
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SANYATI


Sanyati reported a 51 percent increase in interim headline EPS to 13.18 cents. Revenue up 104 percent.
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GOLD


Gold gained as much as 1 percent on Tuesday to track a rebound in the equities market, with investors keeping an eye on the dollar ahead of expected interest rate cuts by major central banks and the U.S. presidential poll.
The dollar rose on Monday ahead of the election as concerns about financial markets and the global economy prompted investors to seek perceived safety in dollar-demoninated assets. It was little changed in early trade on Tuesday.
Gold was trading at $726.65 an ounce, up $4.30 an ounce from New York's notional close on Monday, when it rose as high as $738.15 before trimming gains due to a firm dollar.
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WALL STREET


U.S. stocks ended little changed on Monday as investors picked up bargains on signs of further thawing in credit markets, but were unwilling to place big bets before the presidential election.
Cautious investors stayed on the sidelines as they were reluctant to buy equities in significant amounts ahead of an election that could play a role in the market's direction in the years ahead.
The Dow Jones industrial average edged down 5.18 points, or 0.06 percent, to 9,319.83. The Standard & Poor's 500 Index was off 2.45 points, or 0.25 percent, at 966.30. The Nasdaq Composite Index added 5.38 points, or 0.31 percent, to 1,726.33.
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EMERGING MARKETS


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Some of the main stories out of the South African press:

BUSINESS DAY

  • Investors sit tight as U.S. voters take plunge
  • Analysts confident ANC will retain middle ground
  • JSE offer for bond exchange 'extremely low' says largest shareholder
  • Allan Gray holds up better than most

    BUSINESS REPORT

  • Record slump signals recession
  • Purchasing managers' index sinks on lower sales, output volumes

    THE STAR

  • Brazen jewellery robbers drive into mall


    (Reporting by Rebecca Harrison) (For full Reuters Africa coverage and to have your say on the top issues, visit: http://africa.reuters.com) ($1=9.892 Rand) Keywords: MARKETS SAFRICA FACTORS/

    (rebecca.harrison@thomsonreuters.com; +27 11 775 3160; Reuters Messaging: rebecca.harrison.reuters.com@reuters.net)

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