South African Markets - Factors to watch on Feb 1

JOHANNESBURG, Feb 1 (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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EVENTS

PRETORIA - Kagiso Securities releases purchasing managers index for January. 0900 GMT



GLOBAL MARKETS

Asian stocks slid on Monday after suffering their worst monthly drop in a year, with South Korean automakers bucking the trend to post nearly 3 percent gains amid troubles at rival Toyota.

Asia Pacific stocks outside Japan as measured by MSCI were off 1.2 percent, a 3-month low. The index lost 6.4 percent in January, after a 68 percent surge in 2009, as a host of unsettling factors prompted investors to take profits.



SOUTH AFRICAN MARKETS

South Africa's rand gained against the dollar on Friday after trade data that showed a surplus in December, but the strong currency weighed on mining shares, dragging the bourse down.

Government bonds firmed further on short covering and heightened expectations for an interest rate cut after data that highlighted weak demand in the economy. The JSE Top-40 index of blue chips was off 0.55 percent at 24,041.26 points and the broader All-share index was off 0.45 percent at 26,675.95 points.



SOUTH AFRICAN ECONOMY

South Africa's Finance Minister Pravin Gordhan reasserted the independence of the central bank, a media report said, following calls by the ruling party's union and communist allies to change its mandate.

The Business Times newspaper said on Sunday that Gordhan had called for an end to speculation over the role of the Reserve Bank.



GOLD

Gold prices retreated to hover near $1,080 on Monday after posting a third straight week of declines as investors remained wary of gains in the dollar which weaken bullion's appeal as a currency hedge.

Spot gold was little changed at $1,078.60 per ounce as of 0242 GMT compared to New York's notional close of $1,079.20.



WALL STREET

U.S. stocks dropped on Friday, as worries about fiscal turmoil in Europe and a drop in technology stocks pushed the S&P 500 to its worst monthly decline since February 2009.

The Dow Jones industrial average dropped 53.13 points, or 0.52 percent, to 10,067.33. The Standard & Poor's 500 Index lost 10.66 points, or 0.98 percent, to 1,073.87. The Nasdaq Composite Index fell 31.65 points, or 1.45 percent, to 2,147.35.



EMERGING MARKETS

For the top emerging markets news, double click on

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Some of the main stories out of the South African press:



BUSINESS DAY

- President Jacob Zuma drums up support for radio telescope bid

- State urged to go on with nuclear project

- Surprise as South Africa notches up surplus



BUSINESS REPORT

- Firms deny overcharging for ARVs

- 'Companies Act a mess'



THE STAR

- South Africa's State Security Minister's wife arrest: How safe are we?

- Opposition leader Helen Zille resumes attack on Zuma's sex life

(Reporting by Gugulakhe Lourie) (For more Africa cover visit: http://af.reuters.com -- To comment on this story email: [e-mail]) Keywords: MARKETS SAFRICA FACTORS/ ([e-mail]; [phone]; Reuters Messaging: [e-mail].) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.