The following company announcements, scheduled economicindicators, debt and currency market moves and political eventsmay affect South African markets on Tuesday.
DIARY For South Africa corporate diary, click on For southern and South Africa diary, click on ECONOMIC EVENTS
- South Africa's Treasury auctions 2.1 billion rand ($236.41million) of its 2023 , 2021 and 2031
bonds. 0900 GMT COMPANIES
- Allied Electronics posted a 4 percent drop infirst-half diluted headline earnings per share to 78cents.
- Industrial group Famous Brands has formed ajoint-venture with Coega Dairy that will manufacture a varietyof cheese products, the company said on Tuesday.
SOUTH AFRICA STRIKES
South Africa's local government workers' union said onMonday it would launch a strike over pay in the next few days,the first sign of a wave of labour unrest in Africa's biggesteconomy spreading from the mines into the publicsector.
SOUTH AFRICAN MARKETS South African shares edged lower on Monday after the rand
weakened more than 2 percent, hitting retailers relianton dollar-denominated imports such as Mr Price , butrewarding exporters producing in the local currency.
South Africa's rand fell to a 3-1/2 year low against thedollar on Monday and came close of breaching the key 9.0 randlevel as mining and other strikes continued to shake investorconfidence.
Asian shares rose on Tuesday but were capped by concernsover global growth prospects, especially in the world'ssecond-biggest economy China, and expected weak U.S. corporateearnings.
U.S. stocks slipped in light trading on Monday, pulling backfrom recent five-year highs ahead of an earnings season expectedto be weak.
Gold inched up on Tuesday after two days of decline, butpersistent worries about the euro zone debt crisis and globalgrowth could weigh on bullion, as these concerns keep the dollarstrong.
EMERGING MARKETS For the top emerging markets news, double click on - - - - Some of the main stories out in the South African press: BUSINESS DAY - NUM fights for its status at Implats - Truckers' strike 'could cripple Zimbabwe' BUSINESS REPORT - Industrial strife sends rand plunging - Municipal workers are next($1 = 8.8828 South African rand)(Compiled by Agnieszka Flak)
Keywords: MARKETS SAFRICA FACTORS/