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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- South African e-commerce and media firm Naspers
reported a 57 percent jump in first-half profit.
- South Africa's No.2 drug maker, Adcock Ingram Holdings Ltd , reported a worse-than-expected 9 percent fall in full-year earnings, hit by the loss of high-margin drugs and unfavourable currency swings.
SOUTH AFRICAN MARKETS
South African stocks ended slightly lower on Monday, as furniture retailer Steinhoff traded ex-dividend and as banks extended losses after a downbeat brokerage report.
The rand firmed against the dollar on Monday in a reversal of oversold levels from the past few weeks, underpinned by optimism that Athens would secure a bailout deal to pay off its upcoming debt obligations.
The euro hit a one-month high, commodities rose and Asian shares climbed for a seventh consecutive day on Tuesday as global lenders reached a deal on new debt targets for Greece and a political agreement on disbursing the next installment of aid.
Wall Street slipped on Monday, pulling back from last week's gains, as retailers fell on concerns about heavy discounts at the start of the U.S. holiday shopping season and the overhang of the 'fiscal cliff' kept investors wary of making big bets.
Gold traded in a tight range above $1,748 an ounce on Tuesday, as traders moved to the sidelines after initially pushing up bullion by almost $3 following a deal among Greece's international lenders to cut the country's long-term debt.
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Some of the main stories out in the South African press:
- FirstRand gets toehold in Nigeria
- 'Five years' warning for South Africa's ailing gold sector
- IDC buys strategic interest in Scaw
- Public broadcaster SABC bans Zuma advert
(Compiled by Tiisetso Motsoeneng) Keywords: MARKETS SAFRICA FACTORS/
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