July 12 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday.
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Japanese shares rose and the yen largely held its ground in early trade on Monday, with investors seemingly indifferent to a major election loss suffered by Japan’s government over the weekend. [MKTS/GLOB]
SOUTH AFRICAN MARKETS
South African stocks rose on Friday with gold shares buoyed by rising gold prices, while the rand was little changed in lacklustre trade.
The JSE blue chip Top-40 index .JTOPI rose 0.89 percent to 24,284.88 points, while the broader All-Share index increased by 0.78 percent to 27,272.31 points. [ID:nLDE6681IG]
ASPEN PHARMACARE (APNJ.J)
Embattled Australian drug maker Sigma Pharmaceuticals (SIP.AX) wants South Africa’s Aspen Pharmacare (APNJ.J) to improve its A$648 million ($567 million) bid but declined to extend Aspen’s exclusive negotiations. [ID:nSGE66B00C]
SOUTH AFRICAN COAL
Miner Rio Tinto (RIO.AX) (RIO.L) is considering selling its Chapudi coal exploration assets in South Africa as they will not yield coal suitable for the global market, a source close to the company said on Sunday. [ID:nLDE66A06R]
Members of the biggest union at South African power firm Eskom have accepted a wage offer by the utility and will sign a deal, averting a possible strike that could have affected power supply, a union said.[ID:nWEA9123]
Gold slipped on Monday as physical buyers retreated and investors turned to equities after bullion failed to sustain the previous session’s rally and ETF holdings dropped again. [GOL/]
Wall Street closed out its best week in a year on Friday, snapping back from a long stretch of selling, as investors looked ahead to what many expect will be a solid earnings season.
The Dow Jones industrial average .DJI was up 59.04 points, or 0.58 percent, at 10,198.03. The Standard & Poor’s 500 Index .SPX was up 7.70 points, or 0.72 percent, at 1,077.95. The Nasdaq Composite Index .IXIC was up 21.05 points, or 0.97 percent, at 2,196.45. [.N]
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:
- S.Africa in line for World Cup [WCUP] ratings rebound
- Africa is Unilever’s (ULVR.L) market of future
- World Cup 2010:the legacy
(Reporting by Tiisetso Motsoeneng)