A strike by South African oil company workers over pay enters a 12th day today with supplies to gas stations in major cities owned by companies such as Petroliam Nasional Bhd and Royal Dutch Shell Plc (RDSA) disrupted.
Workers at the South African mines of diamond producer De Beers, controlled by Anglo American Plc (AAL) and the Oppenheimer family, are scheduled to begin a strike over a wages dispute today.
WHAT TO WATCH:
* Metorex Ltd. holds a shareholder meeting in Johannesburg at 10
a.m. local time to consider a takeover bid from Vale SA.
Jinchuan Group Co. has made a higher offer.
* The South African Grain Information Service, an industry group
based in Pretoria, releases monthly grain and oilseed stockpile
data at 12 a.m.
* The Reserve Bank will sell 600 million rand ($88 million) of
inflation-linked debt, called linkers, 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 of 91-day to 364-day maturities.
MARKETS:
* The rand gained 1.3 percent to 6.7813 per dollar at 8:05 p.m.
yesterday in Johannesburg.
* The FTSE/JSE Africa All-Share Index rose 0.2 percent to
32,125.79 yesterday.
* The yield on the 13.5 percent government bond due September
2015, known to traders as the R157, fell by 5 basis points to
7.34 percent late yesterday.
EQUITY MOVERS
* African Bank Investments Ltd. (ABL SJ): The financial-
services provider said it raised 243 million rand through a
private placement of preference shares at 79.75 rand.
* Medi-Clinic Corp. (MDC SJ): South Africa’s second-largest
publicly traded private hospital holds its annual general
meeting.
* Palabora Mining Co. (PAM SJ): The copper producer said
in a trading statement that net income for the half-year to June
30 is 137 percent to 156 percent higher than the 306
million rand reported for the comparative previous period.
* Sabvest Ltd. (SBV SJ): The investment holding company holds
a general meeting of shareholders.
For Related News and Information:
To contact the reporter on this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net
To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net
