March 4 (Bloomberg) -- Kofi Annan, the former secretary-general of the United Nations, will open a global commission for elections, democracy and security in Pretoria from 2 p.m. local time.
WHAT TO WATCH: * Naledi Pandor, the country’s science and technology minister, briefs media in Pretoria about South Africa’s bid to host the Square Kilometre Array radio telescope. * Zwelinzima Vavi, the general secretary of Congress of South African Trade Unions, and Ebrahim Patel, South Africa’s economic development minister, speak at the South African Clothing and Textile Workers Union conference in Durban. * South African Reserve Bank to release results of inflation- linked bond and Treasury-bill auctions. MARKETS: * The rand weakened 0.1 percent against the dollar to 6.9124 at 8:05 a.m. in Johannesburg. * The FTSE/JSE Africa All-Share Index rose 1.2 percent to close at 32,350.12 yesterday. * The yield on the government’s 13.5 percent bond due September 2015, known as the R157, rose 1.2 basis points to 7.791 percent. EQUITY MOVERS: * Bidvest Group Ltd. (BVT SJ): The diversified investment group said today it anticipates a positive impact on earnings excluding one-time items of between 300 million rand ($43.3 million) and 400 million rand from the sale of half of its economic interest in Mumbai International Airport Pvt Ltd. * Grand Parade Investments Ltd. (GPL SJ): The investment company with interests in tourism and gambling releases first- half earnings, which it said on March 1 will likely be between 30 percent and 50 percent higher than the year earlier. * RMB Holdings Ltd. (RMH SJ): Today is the last day to trade in the company’s shares on the JSE in order to participate in the unbundling of its interest in RMI Holdings, before the latter is listed on the exchange. * Sallies Ltd. (SAL SJ): The fluorspar producer said its loss for the first half through December widened to 33.8 million rand, from 27.6 million rand a year earlier. Sallies said it doesn’t expect that sales of sufficient magnitude will be achieved during the remainder of the current fiscal year to eliminate the losses made to Dec. 31. The company has adequate cash resources to meet its commitments “until at least the end of 2011,” Sallies said. The company also renewed a cautionary notice, saying a previously announced transaction remains conditional.
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