South Africa Daybook: MTN, MMI Results, Africa Economic Forum in Cape Town
Stock Chart for MTN Group Ltd (MTN)
Earnings per share attributable to shareholders will be in a range of 5 percent less than a year earlier to 1 percent more, the company said on March 4. MTN releases earnings for the year through December.
WHAT TO WATCH: * The Africa Economic Forum conference takes place in Cape Town with speakers including Bill Egbe, president of Coca-Cola’s South African unit. * South Africa’s Reserve Bank to release invitation at about 11 a.m. in Johannesburg for weekly government bond auction that will be held on March 15. * South African Grain Information Services releases weekly deliveries of corn and wheat at 12 p.m. in Johannesburg MARKETS: * The rand weakened 0.4 percent against the dollar to 6.9063 by 8:06 a.m. in Johannesburg. * The FTSE/JSE Africa All-Share Index fell 1.5 percent to close at 31,827.42 yesterday. * The yield on the 13.5 percent government bond due September 2015, known as the R157, decreased 1 basis point to 7.94 percent. EQUITY MOVERS: * Gijima Group Ltd. (GIJ SJ): The South African computer- services company reported a loss of 271.8 million rand ($39 million) in the six months ended Dec. 31 from a profit of 85.8 million rand a year earlier. * MMI Holdings Ltd. (MMI SJ): The insurance company formed last year from the merger of Metropolitan Group Ltd. and Momentum Group Ltd. said net income rose to 1.08 billion rand in the six months ended Dec. 31 from 813 million rand a year earlier. * Wesizwe Platinum Ltd. (WEZ SJ): The South African explorer of the metal holds its annual general meeting at 9 a.m. Wesizwe is in talks with Jinchuan Group Ltd. for China’s largest platinum producer to buy the company. * RandGold & Exploration Co. (RNG SJ): The South African mining company may report earnings for the year through December.
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