South Africa Daybook: Consumer Inflation, Strike Talks, Imperial Results

South Africa’s annual consumer inflation probably accelerated to 5.2 percent in July from 5 percent the previous month, according to the median estimate of 18 economists surveyed by Bloomberg.

Estimates for the data, which will be released by the Pretoria-based Statistics South Africa at 10 a.m. local time, ranged from 5 percent to 5.3 percent. Prices rose 0.8 percent during the month, according to the median estimate of 16 economists.

     WHAT TO WATCH:
* Labor unions held talks late yesterday on ending a strike by
municipal workers.
* Parliament’s mines committee holds a public hearing at 9 a.m.
on the mining charter that calls for 26 percent black ownership
in the industry.
* South Africa’s Reserve Bank will release an invitation at
about 11 a.m. in Johannesburg for a weekly government-bond
auction.
* The South African Grain Information Service releases data on
weekly deliveries of corn and wheat into storage at about 12
p.m. in Johannesburg.
* Government ministers responsible for overseeing the economy
respond to questions in parliament in Cape Town at 3 p.m.

     MARKETS:
* The rand strengthened 0.3 percent to 7.1957 per dollar by 6:40
p.m. yesterday.
* The FTSE/JSE Africa All-Share Index fell 0.6 percent to
29,259.86 yesterday.
* The yield on the 13.5 percent government bond due September
2015, known to traders as the R157, declined 5 basis points to
6.52 percent late yesterday.

     EQUITY MOVERS:
* Ansys Ltd. (ANS SJ): The designer of transport and defense-
monitoring systems is expected to hold an annual general
meeting.
* Cadiz Holdings Ltd. (CDZ SJ): The owner of a stockbroker and
money manager holds its annual general meeting in Cape Town at
2:30 p.m.
* Harmony Gold Mining Co. (HAR SJ): Africa’s third-biggest gold
company hosts a presentation to money managers, analysts and
reporters at 3 p.m. in Johannesburg.
* Imperial Holdings Ltd. (IPL SJ): South Africa’s largest auto
dealer releases full-year earnings.

To contact the reporter on this story: Gordon Bell in Johannesburg at gbell16@bloomberg.net

To contact the editor responsible for this story: Vernon Wessels at vwessels@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.