RTRS : South African Markets - Factors to watch on Aug 19
JOHANNESBURG, Aug 19 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday.
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GLOBAL MARKETS
Asian stocks edged up on Wednesday but hovered near three-week lows hit the previous day, with investors cautious ahead of Chinese bank results and wary that profit taking will continue to stall a six-month rally.
The MSCI index of Asia Pacific stocks outside Japan ticked up 0.4 percent in morning trade on Tuesday. However, support from the materials sector, which has led the rally in regional markets, was fading. The Shanghai composite slipped 0.3 percent after hitting a two-month low on Tuesday, weighed by metals and minerals producers. [ID:nLJ659364 ]
SOUTH AFRICAN MARKETS
South African stocks snapped a two-day losing streak on Tuesday, boosted by higher metals prices, and the rand firmed on better global sentiment and a smaller contraction in Africa's largest economy.
The JSE Top-40 index of blue chips .JTOPI gained 0.55 percent to reach 21,849.85 points and the broader All-share index was up 0.76 percent at 24,255.88 points. [ID:nLI276199]
SIMMER AND JACK MINES (SIMJ.J)
Simmer and Jack Mines said on Wednesday it has produced 46,589 gold ounces in full-year 2009 compared to 48,298 ounces. It said revenue decreased from 372 million rand to 252 million rand as a result of the negative impact of the strong rand on the gold price. [nWEA6969]
TRUWORTHS (TRUJ.J)
South Africa's biggest listed clothing retailer Truworths is due to report its 52-week earnings on Wednesday. It expects to report a 10-15 percent rise in 52-week earnings per share thanks to stronger sales and higher prices Gold inched up to trade around $940 an ounce on Wednesday, maintaining the previous session's firm sentiment with the precious metal assuming its traditional role as a currency hedge against the dollar.
Gold XAU= stood at $940.30 per ounce at 0306 GMT Tuesday, up 0.3 percent from New York's notional close of $937.30. [GOL/]
WALL STREET
U.S. stocks rose on Tuesday, rebounding after sharp losses in the previous session, as better-than-expected results from big retailers encouraged investors to get back into the market.
The Dow Jones industrial average .DJI was up 82.60 points, or 0.90 percent, at 9,217.94. The Standard & Poor's 500 Index .SPX was up 9.94 points, or 1.01 percent, at 989.67. The Nasdaq Composite Index .IXIC was up 25.08 points, or 1.30 percent, at 1,955.92. [.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:
BUSINESS DAY
- Recovery in sight for South Africa as recession tapers off
- Investors win first round against KPMG South Africa - Former CEO raps state power firm Eskom [ESCJ.UL]
- Tariffs on factory inputs slashed
BUSINESS REPORT
- Draft law can boost black economic empowerment role in state jobs
