South Africa Daybook: Gordhan Speaks at ABSIP, Power Indaba, Telkom, Aveng
South African Finance Minister Pravin Gordhan speaks at the Second Investment Forum of the Association of Black Securities and Investment Professionals at about 12:15 p.m. in Johannesburg.
WHAT TO WATCH: * Public Enterprises Minister Malusi Gigaba speaks in Durban. * African Development Bank President Donald Kaberuka speaks in Pretoria. * South African Reserve Bank releases invitation at about 11 a.m. for weekly inflation-linked government bond auction to be held on March 18. CONFERENCE: * Power Indaba Summit takes place in Cape Town as part of the 11th African Utility Week with speakers including Energy Minister Dipuo Peters and Eskom Holdings Ltd. Chief Executive Officer Brian Dames. MARKETS: * The rand strengthened 0.4 percent against the dollar to 6.8798 on March 11. * The FTSE/JSE Africa All-Share Index fell 0.9 percent. * The yield on the benchmark government R157 bond rose one basis point to 7.89 percent. EQUITY MOVERS: * Aveng Ltd. (AEG SJ): South Africa’s largest construction and engineering company releases fiscal first-half earnings. Aveng on March 1 said earnings per share fell as much as 35 percent. * Bell Equipment Ltd. (BEL SJ): Africa’s largest maker and distributor of dump trucks and forklifts releases annual earnings. The company on March 2 said it will post a profit following a year-earlier loss. * Clover Ltd. (CLR SJ): South Africa’s largest diary supplier releases fiscal first-half earnings. Clover on Feb. 18 said earnings per share before one-time items will be between 73.11 cents and 73.29 cents. * Erbacon Ltd. (ERB SJ): The civil engineering company said it will post a per-share loss between 21.75 cents and 30.8 cents for the fiscal year through February compared with a year earlier profit. * 1time holdings Ltd. (1TM): The low-fare airline said it will on March 17 report full-year earnings per share of between 0.1 cents and 2.5 cents. That compares with earnings a share of 19.5 cents in fiscal 2009. * MTN Group Ltd. (MTN SJ): Outgoing Chief Executive Officer Phuthuma Nhleko said he regrets the company’s failure to buy assets of Orascom Telecom Holding SAE and the transaction “still may come back,” the Johannesburg-based Sunday Times reported, citing an interview with Nhleko. * Telkom South Africa Ltd. (TKG SJ): The Johannesburg-based phone company is expected to name Nombulelo “Pinky” Moholi, who is currently managing director, as chief executive officer, the Sunday Times reported, without saying where it got its information.
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