THE WEEK AHEAD
COMPANY RESULTS: Expected results this week include:
Monday: Genbel SA interims
Thursday: Gold Fields Ltd quarterlies; Randgold & Exploration and Randgold Resources for nine months to end-December
PETROL DOWN: From Wednesday, petrol will cost 6c a litre less and diesel 4c a litre less. Minister of Minerals and Energy Phumzile Mlambo-Ngcuka said the decrease was result of the temporary suspension of an 8c a litre levy which consumers pay into the equalisation fund. The fund is used as a protection tariff for SA's synthetic fuel industry when the international oil price is low. If the levy had not been suspended, high crude oil prices and a weaker rand would have pushed up the price of petrol and diesel by 2c and 4c a litre respectively. Mlambo-Ngcuka also announced that a process to review tariff protection for the synthetic fuel industry had been launched.
TRADE STATS: SA's trade statistics for December are expected to be released tomorrow after being postponed from last Thursday. A Reuters poll of economists forecasts a surplus of R60-million for the month, following a deficit of R567-million in November.
RESERVES: The Reserve Bank is scheduled to release gold and foreign exchange reserves on Wednesday. The Reuters poll sees reserves climbing to R46.7-billion in January from R45.40-billion the previous month, while the net open forex position is forecast to shrink to 11.95-billion from 13.0-billion.
MONEY SUPPLY: December money supply and private sector credit extension is due for release on Tuesday. The Reuters consensus forecast sees M3 money supply rising on a year-on-year basis by 9.7% after rising 8.52% in November. The consensus on private sector credit extension is a rise of 9.2% after year-onyear increase of 8.17% in November.
US WATCH: Economists expect a quarter percentage point hike in US interest rates, the first of an anticipated three hikes this year, when the Federal Reserve meets on Tuesday and Wednesday.
PARLIAMENT: President Thabo Mbeki will deliver his 2000 state of the nation address at the opening of Parliament on Friday.
CRIME: The US Embassy is to hand over an online crime analysis and investigative support system to MTN's centre for crime prevention on on Tuesday.