South African Markets – Factors to watch on July 13

July 13 (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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EVENTS

PRETORIA – Government auctions 1.4 billion rand of its 2020 bond ZAR207= and 700 million rand of its 2031 bond at its weekly auction.

GLOBAL MARKETS

Chinese stocks fell 2 percent on Tuesday on reports that Beijing will not relax tougher property measures any time soon, weighing on the Australian dollar and curbing early gains in Asian shares. [MKTS/GLOB]

SOUTH AFRICAN MARKETS

South African stocks fell for the first time in five sessions on Monday after a technical glitch delayed the opening of trade by 90 minutes.

The rand weakened slightly against the dollar, with market players citing few incentives to trade, given the slack summer volume, while South Africa’s finance minister defended the government’s flexible exchange rate policy.

The JSE Top-40 index of blue chips .JTOPI edged down 0.4 percent to 24,193.39, and the broader All-Share index gave up 0.3 percent to 27,192.31. [ID:nLDE66B1UY]

GOLD XAU=

Gold clawed back near $1,200 per ounce on Tuesday on light physical buying, but further gains were capped by investor caution ahead of the earnings season and firmness in the dollar. [GOL/]

WALL STREET

Caution prevailed in the U.S. stock market on Monday, with indexes edging higher as investors kept bets to a minimum in front of earnings.

The Dow Jones industrial average .DJI added 18.24 points, or 0.18 percent, to end at 10,216.27. The Standard & Poor’s 500 Index .SPX edged up just 0.79 of a point, or 0.07 percent, to 1,078.75. The Nasdaq Composite Index .IXIC gained 1.91 points, or 0.09 percent, to close at 2,198.36. [.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

- Secrecy bill gives state companies “unfair edge”

- Discovery sees U.S. health opportunity

- Vodacom (VODJ.J) traffic rises 40 percent

BUSINESS REPORT

- Cold spells trouble for food: prices to rise sharply as farmers struggle with frost, high input cots and a tough market

- Economists lean towards rate cut

(Reporting by Tiisetso Motsoeneng)

SAfrica’s bourse open delayed to technical glitch – JSE

July 12 (Reuters) – The Johannesburg’s bourse operator, JSE Limited (JSEJ.J), said on Monday the opening of the bourse has been delayed by a technical problem.

It is unclear when the exchange would open, a JSE official said.

“There’s technical problem and the opening has been delayed until further notice.” (Reporting by Tiisetso Motsoeneng; Editing by xx)

SAfrica’s bourse open delayed to technical glitch – JSE

July 12 (Reuters) – The Johannesburg’s bourse operator, JSE Limited (JSEJ.J), said on Monday the opening of the bourse has been delayed by a technical problem.

It is unclear when the exchange would open, a JSE official said.

“There’s technical problem and the opening has been delayed until further notice.” (Reporting by Tiisetso Motsoeneng; Editing by xx)

Technical glitch delays test-firing of Advanced Air Defence (ADD) interceptor missile

New Delhi, Mar.15 (ANI): A technical glitch has once again delayed the launch of India”s indigenously built Advanced AirDefence (ADD) interceptor missile from the Integrated Test Range along Orissa”s coast.
Defence sources said a technical snag in the sub-system has delayed the launch.

The ADD interceptor missile is capable of destroying hostile in-coming ballistic missiles.
After sorting out the problem and thorough examination of all systems, it has now been decided to carry out the test on Tuesday.
The test-firing of the missile is now proposed to be carried out from two different launch sites of the ITR.
The target missile, a modified indigenously built Prithvi would first lift off from a mobile launcher from the ITR”s launch complex at Chandipur-on-sea, 15 km from Balasore, Orissa.

Minutes later the interceptor missile would blast off from the Wheeler”s Island, about 70 km across the sea from Chandipur, to intercept it at an altitude of 15 to 20 km in mid-air over the waters.

The new hypersonic interceptor missile is only called ”AAD” and is meant to be used in ”endo-atmospheric conditions”. (ANI)

Washington Times links Obama daughters with a story on Chicago student violence

Washington, May 16 (ANI): A “technical glitch” in the Washington Times web site caused a photo of backpack-toting first daughters Sasha and Malia Obama to be posted next to a story about the high number of slain Chicago Public Schools students.

The story paired up the picture of the Obama girls above the headline “36 Chicago area students killed sets record,” Solomon’s statement read.

An editor noticed the photograph but wrongly chose to write a caption for it instead of taking it off, the statement said.

The photo was later taken down.

“At no time did the newspaper intend to link the Obama children to the school story,” Solomon wrote.

“We also hope that this glitch does not distract from the important and well-reported subject of the story: the crisis of school violence in one of the nation’s largest cities,” he added. (ANI)

Astronauts fix Hubble gyroscopes, despite technical glitch

Washington, May 16 (ANI): Astronauts have managed to repair gyroscopes in the Hubble, the most critical repair to the giant space telescope, despite facing significant glitches in the process.

According to a report by BBC News, in a second spacewalk, mission specialists Mike Good and Mike Massimino put a refurbished pair of gyroscopes into the telescope after a new set refused to go in.

Besides the gyroscopes, which would enable the Hubble to orient precisely, the giant telescope also got fresh batteries to ensure five more years of life.

Despite the setbacks, scientists said that Hubble would function well, pointing to ever-distant objects in the cosmos.

The troubled spacewalk on May 15 was the longest yet, lasting eight hours.

“At times, I felt like I was wrestling a bear,” Mike Massimino was quoted as saying by AFP news agency, as he and Mike Good struggled to install the gyroscopes, or “rate sensing units” (RSUs).

Previously, only three of the six gyroscopes worked.

But, after the marathon spacewalk, Hubble has four brand new sets and two refurbished ones. Only two are needed to orient the telescope properly.

Of the six gyroscopes replaced, three had failed, two were acting up and one was working properly.

Gyroscopes keep the 19-year-old Hubble telescope pointed where it should be, and hence the replacement operation was the most important part of this mission’s five scheduled spacewalks.

The first part of the spacewalk was to replace the three RSUs, each of which contains two gyroscopes.

While the first RSU went in as planned, the second one did not seat properly on its plate. The crew opted to place the third RSU in the slot of the second.

The same problem occurred when the RSU meant for the second slot was placed into the third, so the crew opted to install a refurbished unit instead.

But, Hubble’s deputy senior project scientist, Mal Niedner, said he was not concerned that the astronauts had to resort to refurbished gyroscopes, which lack the latest anticorrosive wiring.

“It’s the difference between an A and an A-plus,” he was quoted as saying by AP news agency.

The three batteries that were replaced were the original equipment installed on Hubble 19 years ago, intended to have just a five-year lifespan. (ANI)

Failed Google gridlocks worldwide web traffic

Washington, May 15 (ANI): Internet users worldwide were left stranded when Google experienced technical problems overnight.

The technical glitch brought down Google’s homepage and virtually halted services such as its search site, email, YouTube and Google News performing sluggishly or unavailable to some users.

The slowdown peaked around mid-afternoon in Europe and morning in the US, affecting millions of users, reports news.com.au.

Micro-blogging service Twitter lit up throughout the morning with comments and complaints about the outage at the company that controls more than 60 percent of the US online search market alone.

The Mountain View, California-based search giant did not provide any more details about the partial outage, but on their “offical” blog, Google staff used the analogy of “planes piling up over Asia” to explain the meltdown.

The company was being notoriously coy about how many users were affected and for how long the service was affected.

It claimed “about 14 per cent of our users experienced slow services”, but a graph of worldwide internet use posted by Wired magazine pointed to a much different story.

The graph shows traffic through the top 10 ISPs in the US and shows traffic slid to a virtual halt for two hours. (ANI)

‘Jackomania’ grips people worldwide

London, Mar 13 (ANI): It seems that Jackomania has gripped people all over the world.

As Michael Jackson prepares for his ‘last ever’ London gigs, the demand for concert tickets has soared, leaving the sales website eventually crashed.

Nearly 360,000 fans have snapped up tickets for his final UK concerts so far.

Die-hard Jacko fans, from Congo and Australia have got the chance to get their tickets.

The first 100,000 pre-sale tickets were snapped up within two hours of the website opening yesterday and in 10 hours, some 240,000 tickets – costing 50 pounds and 75 pounds – had been sold.

Some people are even trying to cash in. One of the punters has already put a pair of tickets on eBay for 10,000 pounds.

“It’s been quite extraordinary. Showbusiness history has been made,” the Daily Star quoted a spokesman for promoters AEG Live as saying.

“The demand has been massive,” he added.

Some fans were disappointed when a technical glitch caused the website to crash.

“We witnessed an unprecedented level of demand. Apologies to those fans who were unable to log on,” said Ticketmaster managing director Chris Edmonds. (ANI)