SOUTH AFRICA DAYBOOK: Mminele, Reserves, BHP Court Judgment

Daniel Mminele, a deputy governor at the Reserve Bank of South Africa, gives a speech in Johannesburg from 7:30 a.m.

The central bank will release its July reserves at 8 a.m. Gross reserves probably rose to $50.4 billion from $50 billion the month earlier, according to the median estimate of seven economists surveyed by Bloomberg while net reserves likely increased to $47.5 billion from $47.2 billion, an estimate by 5 economists showed.

     WHAT TO WATCH:
* Judgment will be given in the Johannesburg High Court in a
case brought by Naspers Ltd., a company that owns newspapers,
against BHP Billiton Ltd. demanding the details of the pricing
arrangement BHP has with state-owned power company Eskom
Holdings SOC Ltd. at its Southern African aluminum smelting
business.
* The Reserve Bank will sell 600 million rand ($87 million) of
inflation-linked debt, called linkers, according to central-bank
data on Bloomberg. The auction is at 11 a.m. in Pretoria, with
the results announced about 30 minutes later, the Reserve Bank
said.
     The bank will also sell 6.845 billion rand of Treasury
bills of 91-day to 364-day maturities.
* President Jacob Zuma meets the owners of media companies at 9
a.m. in Pretoria.


     MARKETS:
* The rand fell 3.1 percent to 6.9257 per dollar at 7:08 p.m.
yesterday in Johannesburg.
* The FTSE/JSE Africa All-Share Index declined 3 percent to
29,601.61 yesterday.
* The yield on the 13.5 percent government bond due September
2015, known to traders as the R157, fell 2 basis points to 7.06
percent late yesterday.

     EQUITY
* Anglo American Plc (AGL SJ): De Beers, 45 percent owned by
Anglo, said its South African mines will return to full
production on Aug. 6 after a wage settlement ended a 14-day
strike. De Beers is the world’s biggest diamond producer.
* Bell Equipment Ltd. (BEL SJ): The handling machinery
manufacturer said in a trading statement that earnings per share
for the six months to June 30 would be about 1.09 rand, compared
with 9 cents in the same period a year ago.
* Old Mutual Plc (OML SJ): The U.K.’s third-biggest insurer
reports first-half earnings.
* Pioneer Foods Ltd. (PFG SJ): The food producer issued a
cautionary announcement saying it had entered talks that could
affect the value of its shares.

To contact the reporter on this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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