South Africa Daybook: Consumer Inflation Unchanged, Briefing on Shale Gas
South Africa’s annual inflation rate was unchanged at 3.7 percent in February from the month before, according to the median estimate of 22 economists surveyed by Bloomberg News.
Estimates for the data, which will be released by Pretoria- based Statistics South Africa at 10 a.m. South African time, ranged from 3.5 percent to 3.9 percent. Prices rose 0.7 percent in the month, according to the median estimate of 20 economists.
WHAT TO WATCH: * The South African Reserve Bank publishes its leading economic indicator, which signals trends six to 12 months ahead. * Officials from the Petroleum Agency of South Africa brief lawmakers on shale gas mining. * South African Deputy President Kgalema Motlanthe answers questions in Parliament. * The Reserve Bank releases invitations at about 11 a.m. for its weekly government bond auction that will be held on March 29. * South African Grain Information Services releases weekly deliveries of corn and wheat at 12 p.m. in Johannesburg. MARKETS: * The rand strengthened 0.9 percent against the dollar to 6.8935 as of 7:54 p.m. Johannesburg time. * The FTSE/JSE Africa All-Share Index gained 0.6 percent to close at 30,868.31 yesterday. * The yield on the benchmark government R157 bond decreased 3 basis points to 7.88 percent late yesterday. EQUITY MOVERS: * Jasco Electronics Holdings Ltd. (JSC SJ): The telecommunications company publishes earnings for the first half through December. * Wesizwe Platinum Ltd. (WEZ SJ): The explorer of the metal said it expects to report earnings per share of between 39 cents and 42 cents for the year ended December, compared to a loss per share of 6.65 cents during the year earlier.
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