South Africa Daybook: Patel Growth Plan, Absa Profit, Road-Freight Strike

South African Economic Development Minister Ebrahim Patel presents details on his New Growth Path, which aims to create 5 million jobs over the next decade, to lawmakers at 9 a.m. in Cape Town.

     WHAT TO WATCH:
* A strike by South African truck drivers over a pay dispute
continues, according to the South African Press Association.
* Transport Minister S’bu Ndebele briefs reporters on the
government’s infrastructure development plans at 9 a.m. in Cape
Town.
* Education Minister Angie Motshekga holds a press briefing on
the government’s plans to improve the education system at 11
a.m. in Cape Town.
* The South African Reserve Bank releases results of a weekly
government bond auction at about 11 a.m. in Johannesburg.
* South African Grain Information Services releases weekly
imports and exports of corn and wheat on its website at 12 p.m.
Johannesburg time.

     MARKETS:
* The rand strengthened 0.4 percent against the dollar to 7.2763
by 7:30 a.m. Johannesburg time.
* The FTSE/JSE Africa All-Share Index advanced 0.4 percent to
close at 33,094.06 yesterday.
* The yield on the benchmark government R157 bond increased 14
basis points to last trade at 7.98 percent.
* Gold for immediate delivery rose 0.3 percent to $1,365.25 an
ounce by 7:30 a.m. Johannesburg time. Spot platinum climbed 0.5
percent to $1,838.10 an ounce.
* The Dow Jones Industrial Average declined 0.04 percent.
* The Stoxx Europe 600 Index added 0.4 percent.

     EQUITY MOVERS:
* Absa Group Ltd. (ASA SJ): South Africa’s largest retail bank
may post full-year adjusted earnings a share of 11.13 rand,
according to the median estimate of 10 analysts surveyed by
Bloomberg News, compared with 10.72 rand a year earlier.
* Comair Ltd., the carrier partly owned by British Airways Plc,
is scheduled to post its results for the six months to Dec. 31.
* Tiger Brands Ltd., South Africa’s largest food company, holds
its annual meeting of shareholders in Johannesburg.

To contact the reporter on this story: Vernon Wessels in Johannesburg at vwessels@bloomberg.net

To contact the editor responsible for this story: Vernon Wessels at vwessels@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.