Saving & Investing
SOUTH AFRICA DAYBOOK: Zuma, Telkom Hearings, Grain Stockpiles
The two leaders will meet in the capital, Pretoria, from 9 a.m. local time.
WHAT TO WATCH: * The Competition Appeal court hears a review and appeal application lodged by three government ministries against Wal- Mart Stores Inc.’s takeover of Massmart Holdings Ltd. in Cape Town. * The Competition Tribunal will hold hearings in Pretoria from 10 a.m. on allegations Telkom South Africa Ltd. abused its market position by charging excessive broadband prices. * The Reserve Bank is offering 800 million rand ($99 million) of inflation-linked debt, 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 South African Grain Information Service will publish monthly stockpile figures at 12 p.m. * South Africa’s Minister of International Relations and Cooperation Maite Nkoana-Mashabane will hold a press conference on climate change in Stellenbosch, near Cape Town, at 2 p.m. * Elias Masilela, chief executive officer of the Public Investment Corp., discusses black economic empowerment policies at a mining event in Johannesburg. MARKETS: * The rand weakened 3 percent to 8.2485 per dollar at 6:02 p.m. yesterday in Johannesburg. * The FTSE/JSE Africa All-Share Index fell 1.2 percent to 30,836.89 yesterday. * The yield on the 13.5 percent government bond due September 2015, known to traders as the R157, increased 1 basis point, or 0.01 percentage point, to 6.74 percent late yesterday. EQUITY MOVERS AND COMPANY NEWS: * Afgri Ltd. (AFR SJ): The handler of about a third of South Africa’s grain holds its annual general meeting in Pretoria at 10 a.m. * Cadiz Holdings Ltd. (CDZ SJ): The owner of a stockbroker and money manager holds a general meeting of shareholders in Cape Town at 3 p.m. to vote on the proposed disposal of a 60 percent stake in its securities and stock-broking divisions to BNP Paribas SA. * Infrasors Ltd. (IRA SJ): The brick and sand producer holds its annual general meeting in Johannesburg at 11 a.m. * Oasis Crescent Property Fund (OAS SJ): The exchange-traded property fund said net income rose 2.8 percent to 19 million rand in the six months to Sept. 30.
To contact the editor responsible for this story: Andrew J. Barden at email@example.com