RTRS South African Markets - Factors to watch on Aug 13
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JOHANNESBURG, Aug 13 (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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GLOBAL MARKETS
Asian stocks and commodities rose on Thursday after the Federal Reserve said the ailing U.S. economy was showing signs of "leveling out", spurring investors to buy back shares and other riskier assets and sell U.S. dollars.
Commodity bulls pushed oil prices further above $70 a barrel and lifted copper prices to a 10-month high, hoping for sustained demand for raw materials. [ID:nSP292313]
SOUTH AFRICAN MARKETS
South Africa's rand reversed losses against the dollar on Wednesday, turning slightly firmer partly on news the country's biggest union has suspended a wage strike that could have hurt the economy.
But local stocks slipped for a second session as weak retail sales data hit shopping chain stocks and industrial conglomerate Bidvest (BVTJ.J) slumped after forecasting lower profit.
The JSE Top-40 index .JTOPI of blue-chip stocks shed 0.22 percent to 22,231.02 points, bouncing off session lows after Wall Street opened stronger. The All-share index dipped 0.38 percent to 24,588.45 points. [ID:nLC735901]
SASOL (SOLJ.J)
South Africa's Sasol (SOLJ.J) sold gas and condensate worth $230 million from its Pande/Temane natural gas project in Mozambique between 2004 and the end of last year, state-run Radio Mozambique reported on Wednesday. [ID:nLC4965]
SOUTH AFRICA - STRIKES
South Africa's biggest union said on Wednesday it had suspended a strike set for Thursday at state power firm Eskom that could have led to power cuts and further damage to Africa's biggest economy