South Africa Daybook: Retail Sales, Carbon Tax, Coal of Africa, ELB Group
Statistics South Africa publishes retail sales data for January at 1 p.m. on its website. The median estimate of 7 economists surveyed by Bloomberg is for sales growth to slow to an annual 7.2 percent from 8.3 percent the previous month.
WHAT TO WATCH: * The National Treasury holds a workshop at 9 a.m. on carbon taxes after the release of a discussion paper in December. The taxes may affect on companies such as Sasol Ltd. and Eskom Holdings Ltd. * 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 22. * South African Grain Information Services releases weekly deliveries of corn and wheat at 12 p.m. in Johannesburg. CONFERENCE: * The African Utility Week conference takes place in Cape Town. Speakers include Eskom Holding Ltd.’s Medupi power plant project manager Roman Crookes. MARKETS: * The rand strengthened 0.2 percent against the dollar to 6.9712 as of 8:10 a.m. Johannesburg time. * The FTSE/JSE Africa All-Share Index dropped 2.2 percent to close at 30,193.95 yesterday. * The yield on the benchmark government R157 bond was unchanged at 7.81 percent at 8:10 a.m. in Johannesburg. * Gold for immediate delivery gained 0.3 percent to $1,398.63 an ounce as of 8:15 a.m. Johannesburg time. Platinum declined 0.8 percent to $1,691.43 an ounce. * The Dow Jones Industrial Average dropped 1.2 percent to 11,855.42. * The Stoxx Europe 600 Index weakened 2.3 percent to 266.32. EQUITY MOVERS: * Coal of Africa Ltd. (CZA SJ): The producer of the fuel in South Africa publishes interim earnings. * Metair Investments Ltd. (MTA SJ): The automobile parts producer gives a presentation on its earnings for the year through December. The company said yesterday headline earnings per share climbed almost threefold. * ELB Group Ltd. (ELR SJ): The investment trust with industrial interests said net income climbed to 37.7 million rand ($5.41 million) in the six months through December from 13 million rand a year earlier. * Foneworx Holdings Ltd. (FWX SJ): The provider of data services to the security and consumer-goods market said net income for the six months through December was 9.8 million rand, compared with 9.7 million rand a year earlier.
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