South African Markets – Factors to watch on August 13

JOHANNESBURG, Aug 13 (BestGrowthStock) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect South African
markets on Friday.

– – – –

AGM

– Lewis Group Limited (LEWJ.J: ), the South African furniture
retailer is due to hold its annual general meeting.

PUBLIC SECTOR WAGE TALKS

South Africa’s government increased its offer to more than a
million state workers in an effort to head off a mass strike,
sources in the talks said on Thursday.[ID:nLDE67B20N]

SASOL (SOLJ.J: )

Petrochemicals group Sasol rejected allegations it broke
South African competition law and will contest charges it
overcharged customers.[ID:nLDE67B0ZW]

IMPALA PLATINUM (IMPJ.J: )

Impala Platinum said on Thursday it expected full-year
headline earnings per share to be up to 25 percent lower
compared to the year-ago period in 2009 due to an increase in
share-based expenses.[ID:nLDE67B1NB]

GLOBAL MARKETS

The yen inched further away from 15-year peaks on Friday as
talk swirled that Japan’s authorities may soon intervene to curb
it, while Asian stocks edged up to claw back some of the week’s
heavy losses.[MKTS/GLOB]

SOUTH AFRICAN MARKETS

South Africa’s rand firmed against the dollar on Thursday as
offshore dealers covered their short rand positions, while local
stocks were largely flat.

Increasing hopes for an interest rate cut before the end of
the year saw government bonds gaining further, pushing yields to
multi-month lows across the curve.[.J]

GOLD (XAU=: )

U.S. first-time jobless benefits claims unexpectedly rose to
their highest in almost six months, fueling fresh concerns of a
faltering economic recovery, spurring safe-haven demand that
bolstered gold and the dollar.[GOL/]

WALL STREET

U.S. stocks (Read more about the stock market today. ) ended down for a third straight day on Thursday
as an unexpected rise in jobless claims and a sobering revenue
outlook from Cisco underscored the hurdles to economic recovery.

Thursday’s drop comes a day after all three major indexes
posted their worst percentage declines in more than a month,
erasing gains for the year in the aftermath of a gloomier
outlook from the U.S. Federal Reserve.[.N]

EMERGING MARKETS

For the top emerging markets news, double click on
[nTOPEMRG]

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

THE STAR/BUSINESS REPORT

– Zuma in graft crackdown

– Banks take different paths

– ANC condemns killing of illegal miners at Aurora mine

BUSINESS DAY

– Economy ‘moving sideways’ – Standard

– Sweeping probe of state corruption

– AngloGold is reaping hedge book reward

(Compiled by Vuyani Ndaba and Agnieszka Flak)

South African Markets – Factors to watch on August 13