20111026
Reuters
Oct 26 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday.

DIARY

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POLITICS

- The ANC's disciplinary hearing of its youth league leader Julius Malema resumes. Malema is accused of bringing the ruling party into disrepute when he called for regime change in neighbouring Botswana.

ECONOMICS

- South Africa will see its budget deficit widen a touch this year to support a weak recovery, but aims to constrain expenditure and keep debt in check and over the following three years.

- Finance Minister Pravin Gordhan said on Tuesday South Africa was loath to increase its debt burden markedly due to the uncertain global economic environment and said government would come to an understanding with unions about wage deals.

- South Africa's plans to cut its budget deficit to 3.3 percent in 2014/15 are realistic and will be met, National Treasury Director General Lungisa Fuzile said on Tuesday.

COMPANIES

- South Africa's National Union of Mineworkers (NUM) agreed with Xstrata to resolve within seven days a dispute over a share ownership plan that has disrupted production of coal and alloys for more than a week, the union and the government said on Tuesday.

The NUM said it will consult its members on Wednesday on whether to suspend the strike as talks continue.

- Murray & Roberts holds its annual general meeting.

SOUTH AFRICAN MARKETS

South African stocks stayed largely flat on Tuesday, after news that European Union finance ministers cancelled a meeting increased concern about the euro zone debt crisis and soured sentiment late in the session.

Government bonds rallied and yields fell after the Treasury said it would not issue new debt to plug a wider budget deficit, while comments it would not use reserves to move the rand helped weaken the currency.

GLOBAL MARKETS

Asian shares declined on Wednesday ahead of a key meeting of European policymakers later in the session, with concerns heightening that the outcome to contain Europe's sovereign debt crisis could fall short of expectations.

WALL STREET

U.S. stocks fell on Tuesday on doubts European leaders can agree on a plan to end the euro zone debt crisis, while major corporations disappointed investors with their outlooks.

Though European Union and euro zone leaders still planned to hold a summit on Wednesday, markets were spooked by news that the meeting by euro zone finance ministers was canceled.

GOLD

Spot gold rose nearly 1 percent on Wednesday to its highest level in more than a month, as safe-haven demand returned on growing doubts over a resolution to the euro zone debt crisis ahead of a key European Union summit later in the day.

EMERGING MARKETS

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

BUSINESS DAY

- JSE to gain as Gordhan relaxes local listing rules.

BUSINESS REPORT

- Gordhan urges South Africa to be prudent. (Compiled by Olivia Kumwenda, editing by Ed Stoddard)