South African Markets - Factors to watch on

JOHANNESBURG, The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday. GLOBAL MARKETS Asian shares fell on Thursday as concerns over the global economy once again took centre stage, while renewed uncertainty about the U.S. auto bailout plan sparked a subtle shift towards assets seen safer such as the yen. Regional bonds held firm, reflecting the aversion to risk, while oil prices edged up after rallying a day earlier on signs Saudi Arabia had slashed supplies to customers. South Korea's central bank on Thursday cut interest rates by 1 percentage point, becoming the latest central bank to respond aggressively to a sharply slowing economy and falling inflation. For a story, double click on. ZIMBABWE The death toll from Zimbabwe's cholera outbreak soared to nearly 800 on Wednesday and a court ordered police to find a missing rights activist, piling more pressure on President Robert Mugabe's government. The spreading cholera, coupled with chronic food shortages, has highlighted the economic collapse of the southern African nation and prompted calls for Mugabe's resignation from Western leaders and some within Africa. For a story, double click on. SOUTH AFRICAN MARKETS South Africa's stocks climbed to a five week high on Wednesday bouyed by firmer mining shares and government bonds rallied as retail sales data re-inforced the chance of an interest rate cut. The central bank's Monetary Policy Committee (MPC) started its meeting on Wednesday and it is widely expected to cut the repo rate by 50 basis points to 11.5 percent on Thursday. The rand firmed in late Johannesburg trade against the dollar after the greenback slipped to a two-week low against the euro as news broke that U.S. lawmakers had reached a tentative aggreement for a bailout plan of the auto industry. For Wednesday's South African financial markets closing report, double click on. BHP BILLITON Standard & Poor's revised its outlook on Billiton to stable, from negative after it scrapped an all-share takeover offer for rival Rio Tinto. S&P affirmed its 'A+' long-term and 'A-1' short-term corporate credit ratings on the company. For Standard & Poor's statement double click on STEFSTOCKS, GROUP FIVE, BASIL READ , WBHO Utility Eskom said a contract it awarded to a South African construction consortium was worth 2.9 billion rand ($283.7 million). South Africa's Stefanutti Stocks said earlier this week it would lead a joint venture to build civil works at Eskom's Kusile Power Station. The consortium also includes Group Five, Basil Read and WBHO Construction. For story double click on NEOTEL, TELKOM South Africa's No. 2 fixed-line phone operator Neotel has secured a total of 7.5 billion rand ($733.7 million) in funding to help it expand its network and better compete with former monopoly Telkom. Neotel, in which India's Tata group holds a stake, said it reached the 7.5 billion total in equity and debt after raising an extra 4.4 billion rand in project finance. For story double click on GOLD Gold edged down to around $800 on Thursday to track weaker equities, a day after posting its biggest daily rise in almost three weeks, but cuts in oil output could spur safe-haven buying. Profit-taking also erased some of gold's gains but analysts said investors' appetite for risky assets was somewhat restored after bullion rallied to a high of $813.10 on Wednesday, its strongest since Dec. 1, on firm U.S. equities and oil. Gold was trading at $803.05 an ounce, down $6.85 from New York's notional close on Wednesday, when it rose more than 4 percent, its biggest daily percentage gain since Nov. 21. Gold was 18 percent above a 13-month low around $680 hit in October. For the latest precious metals report, double click on . WALL STREET U.S. stocks rose in a choppy session on Wednesday as a rebound in oil prices and other commodities lifted energy, mining and materials shares, offsetting nervousness over whether Washington will agree on a bailout for ailing car makers. The Dow Jones industrial average rose 70.09 points, or 0.81 percent, to 8,761.42. The Standard & Poor's 500 Index gained 10.57 points, or 1.19 percent, to 899.24. The Nasdaq Composite Index was up 18.14 points, or 1.17 percent, at 1,565.48. For the New York stock market report, double click on. EMERGING MARKETS For the top emerging markets news, double click on . - - - - Some of the main stories out of the South African press: BUSINESS DAY - Retail in full retreat as sales take deep plunge - JSE recovers ground lost since October - Higher JSE bid wins Bond Exchange nod - Nedbank Capital opens its purse for Neotel - Sappi cuts output to avoid stock surplus BUSINESS REPORT - IDC gives Sheraton Textiles a lifeline - Sapia blinks at Transnet's 74 pct hike plan THE STAR - Falsely accused father wins long custody battle - No need for arms inquiry - Motlanthe