Sept. 2 (Bloomberg) -- South Africa’s ruling African National Congress party will make public a decision after 9 a.m. local time in Johannesburg on whether disciplinary charges against its youth wing leader Julius Malema should be dropped.
Malema faces possible expulsion from the party in a case that could determine the political fate of President Jacob Zuma.
WHAT TO WATCH * The National Association of Automobile Manufacturers releases sales data for the month of August at 11 a.m. In July South African car sales rose by 10.5 percent from the same month the year earlier. * Absa Group Ltd.’s Chief Executive Officer Maria Ramos speaks at 1 p.m. at the University of Cape Town on the state of the world economy and its impact on South Africa. * The government’s Central Energy Fund releases monthly adjustments to oil product prices. * The South African Reserve Bank will auction 600 million rand ($86 million) of inflation-linked securities, known as linkers, maturing in 2022, 2028 and 2033, 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 ranging in maturity from 91 days to 364 days. CONFERENCES * The second annual African Cup of Investment Management conference takes place in South Africa. The conference is in its second day. MARKETS: * The rand declined 0.2 percent to 6.9927 per dollar at 6:34 p.m. yesterday in Johannesburg. * The FTSE/JSE Africa All-Share Index rose 0.3 percent to 31,088.12 yesterday. * The yield on the 13.5 percent government bond due September 2015, known to traders as the R157, decreased 10 basis points, or 0.1 percentage point, to 6.39 percent late yesterday. EQUITY MOVERS: * Beige Holdings Ltd. (BEG SJ): The pharmaceutical and cosmetic manufacturer holds an annual general meeting of shareholders. * Bidvest Group Ltd. (BVT SJ), Combined Motor Holdings Ltd. (CMH SJ), Imperial Holdings Ltd. (IPL SJ): The National Automobile Association publishes vehicle sales for August. * Metorex Ltd. (MTX SJ): The South African copper producer holds a general meeting for shareholders to vote on Jinchuan Group Ltd.’s $1.36 billion takeover of the South African company. * Wilson Bayly Holmes-Ovcon Ltd. (WBO SJ): The construction company holds a general meeting of shareholders.
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