South African Daybook: InflationLinked Bond Sale, ANC Meeting, BioScience
The South African Reserve Bank plans to sell 600 million rand ($80.9 million) of inflation- linked bonds maturing in 2022, 2028 and 2033.
The auction is at 11 a.m. in Pretoria, with the results announced about 30 minutes later.
WHAT TO WATCH: * Lawmakers are scheduled to hold public hearings on the government’s minerals processing strategy in Cape Town. * The ruling African National Congress will continue a disciplinary hearing of youth leader, Julius Malema, in Johannesburg today. * The ANC’s National Executive Committee will begin a three-day meeting in Johannesburg. * President Jacob Zuma is scheduled to speak at an event organized by the South African National Taxi Council at 7.30 a.m. in Johannesburg. * Earthlife Africa plans to march to the Johannesburg offices of Eskom Holdings SOC Ltd. and BHP Billiton Ltd. to protest over environmental issues. MARKETS: * The rand weakened 0.2 percent to 7.3922 per dollar at 5:49 p.m. yesterday in Johannesburg. * The FTSE/JSE Africa All-Share Index rose 1.8 percent to 30,998.05 yesterday. * The yield on the 13.5 percent government bond due September 2015, known to traders as the R157, dropped 14 basis points to 6.82 percent late yesterday. EQUITY MOVERS: * BioSience Brands Ltd. (BIO SJ): The health and nutritional products supplier reports earnings for the year through June. * Kelly Group Ltd. (KEL SJ): The human resources company holds a general meeting of shareholders. * Pinnacle Technology Holdings Ltd. (PNC SJ): The computer and networking group reports results for the year to June 30.
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