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(AFX UK Focus) 2009-11-05 06:20
South African Markets - Factors to watch on Nov 5
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JOHANNESBURG, Nov 5 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday.

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DIARY

CAPE TOWN - 16th Africa Oil Week. Oil and gas industry executives, key African government officials, state and national oil companies to attend. (To Nov. 6. More details on http://www.petro21.com/events/index.cfm?id=454)
JOHANNESBURG - Reuters October Econometer survey. 0930 GMT

ZIMBABWE


Regional leaders hold a summit in Mozambique on Thursday hoping to prevent the collapse of Zimbabwe's unity government, threatened by the most severe political standoff since it was formed in February.

GLOBAL MARKETS


Asian shares dipped on Thursday, and the dollar fell after the U.S. Federal Reserve vowed to keep rates near zero for "an extended period" and said the recovery of the world's biggest economy would be sluggish.
The Fed's pledge to stick to a very loose monetary policy was expected and gave investors little new to trade on, although its cautious economic outlook prompted light profit taking.

SOUTH AFRICAN MARKETS


South Africa's rand and stocks firmed on Wednesday, buoyed by stronger metal prices and rising risk appetite in global markets.
The Johannesburg Top-40 index gained 0.79 percent to 23,300.84 points, while the broader All-Share index added 0.66 percent to 25,924.50 points.

NEDBANK


The South African bank is expected to issue a third quarter trading update. It lowered its 2009 earnings outlook in August after reporting a slide in first-half profit as bad debts climbed at its corporate and retail units. 0630 GMT

TRUWORTHS


The South African clothing retailer is expected to issue a trading update. It said in August the year ahead would be tough as a result of low consumer spending. 0900 GMT

FOSCHINI


The South African clothing retailer is expected to release its interim results. It said in September sales for the first five months of the fiscal year rose more than 8 percent in an "extremely tough" trading environment. 1200 GMT

REMGRO


The South African investment holding group said on Wednesday the country's Competition Tribunal had approved its offer to buy Venfin.

SOUTH AFRICAN POLITICS


South African President Jacob Zuma sought to strengthen economic and diplomatic ties with oil heavyweight Equatorial Guinea during a visit on Wednesday, his office said in a statement.
Zuma's visit coincided with Equatoguinean President Teodoro Obiang Nguema Mbasogo's release of four South African mercenaries jailed for a foiled 2004 coup led by former British special forces officer Simon Mann, who was also pardoned.

GOLD


Spot gold inched lower on Thursday but remained within striking distance of the $1,100 level after hitting an all-time high for the second straight session on a weak dollar the previous day.
News this week of India's purchase of 200 tonnes of gold from the International Monetary Fund has also provided gold with upward momentum to rise back towards $1,100.

WALL STREET


U.S. stocks rallied but lost steam on Wednesday after the Federal Reserve said it would keep rates near zero for "an extended period" even as it expressed confidence in the economic recovery.
Stocks pushed higher in the hour following the FOMC statement, after the Fed kept its benchmark federal funds rate unchanged in a range of zero to 0.25 percent. For details, see The S&P 500 rose as high as 1,061.00 and the Nasdaq touched 2,081.00.
But the market was unable to hold those gains as it succumbed to selling pressure in the last half-hour of trading.

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

  • S.Africa's ruling ANC party, allies hatch new plan to curb national planning minister Trevor Manuel's authority
  • Gold hits another high as dollar droops
  • External shocks spur rand leaps -IMF

    BUSINESS REPORT

  • Labour broking is vital service, says the International Labour Organisation
  • Calls mount for job creation policy
  • S.Africa's neighbours must prioritise economic diversification -World Trade Organisation review

    THE STAR


    - "MTN stole our SMS idea": couple suing cellphone giant over controversial quiz competition

  • Ex-girlfriend of convicted drug smuggler Glen Agliotti implicates former police chief Jackie Selebi


    (Reporting by Serena Chaudhry) (For more Reuters Africa coverage and to have your say on the top issues, visit: http://af.reuters.com) Keywords: MARKETS SAFRICA FACTORS/

    (serena.chaudhry@thomsonreuters.com; +27 11 775 3153; Reuters Messaging: serena.chaudhry.reuters.com@reuters.net)

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