July 27 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.
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PRETORIA – Government auctions 1.1 billion rand of its 2018 bond ZAR204= and one billion rand of its 2020 bond ZAR207= at its weekly auction. 0900 GMT
PRETORIA – Stats SA releases Q2 2010 jobless data. 0930 GMT
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Asian stocks rose to their highest in two and a half months on Tuesday, boosted by solid U.S. housing data, while the euro inched up towards two-month peaks on relief over stress tests on European banks.
The MSCI index of Asia Pacific ex-Japan stocks .MIAPJ0000PUS was up 0.4 percent, led by gains in the technology .MIAPJIT00PUS and consumer durables .MIAPJCD00PUS sectors. [GLOB/MKTS]
SOUTH AFRICAN MARKETS
South Africa’s rand advanced to fresh 3-month highs against the dollar on Monday and domestic stocks rose on the back of higher financials. The rand broke through key technical levels in the session and was eyeing 7.25/dollar, a level it has only pierced briefly twice in the past year.
On the bourse, the JSE Top-40 index of blue chips .JTOPI edged up 0.19 percent to 25,381.47, while the broader All-Share index gained 0.26 percent to 28,499.00. [ID:nLDE66P1O1]
ANGLO PLATINUM (AMSJ.J)
Anglo Platinum, the world’s biggest producer of the precious metal, said on Monday it would lift its production by about 3 percent a year for the next 10 years to meet slowly recovering demand. [ID:nLDE66P0AF]
Gold gained on Tuesday in a thin market driven by a firm euro and a technical rebound as prices briefly hit the 100-day moving average, while jewellery makers stayed on the sidelines after recent purchases.
Spot gold XAU= added $1.05 to $1,184.80 an ounce by 0336 GMT as dealers shrugged off a slight decline in ETF holdings. Gold had fallen nearly $8 on Monday after strong U.S. home sales data dented its safe haven appeal. [GOL/]
An upbeat outlook from FedEx, coupled with encouraging home sales, lifted U.S. stocks on Monday, keeping the S&P 500 above 1,100 for a second day and suggesting the rally could last.
The Dow Jones industrial average .DJI gained 100.81 points, or 0.97 percent, to 10,525.43. The Standard & Poor’s 500 Index .SPX rose 12.35 points, or 1.12 percent, to 1,115.01. The Nasdaq Composite Index .IXIC advanced 26.96 points, or 1.19 percent, to close at 2,296.43. [.N]
For the top emerging markets news, double click on [nTOPEMRG]
The private sector arm of the World Bank said on Monday it would provide funding that would help enable Nigerian banks to buy distressed counterparts rescued in a $4 billion central bank bailout last year. [ID:nLDE66P1RB]
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Some of the main stories out of the South African press:
- Rand up on better sentiment in U.S, Europe
- Kumba Iron Ore (KIOJ.J) “to offer olive branch” if it wins dispute
- Dip in leading indicator fuels fear of slowdown in recovery
- Defence Minister Lindiwe Sisulu denies sullen soldiers pose a threat
(Reporting by Gugulakhe Lourie)