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Johannesburg - South African stocks edged lower on Monday as e-commerce and media firm Naspers [JSE:NPN], the continent's biggest company by market value, fell after posting a surprise drop in full-year earnings.
Naspers slumped nearly 5% to R1 206.93, making it the biggest decliner of the benchmark Top-40 index, after its earnings were hit by expansion spending.
The Top-40 index edged 0.61% lower to 46 054. The broader All-share index was down 0.52% to 51 058.
Also falling was mobile phone operator Vodacom [JSE:VOD], which was down 4.36% to R129.50 as it traded ex-dividend, or without the right to its latest dividend.
But shares of platinum firms Anglo American Platinum [JSE:AMS], Impala Platinum [JSE:IMP] and Lonmin [JSE:LON] rose as the striking Association of Mineworkers and Construction Union (Amcu) said it would end a five-month stoppage at the mines operated by the three firms after signing wage deals.
Workers are expected to start returning to work on Wednesday, ending the sector's longest and costliest strike.
Amplats gained 1.6% to R498 and Impala added 1.11% to R114.25, while Johannesburg-listed shares of Lonmin were up nearly 3% to R46.69.
* Fin24 is part of Media24, a subsidiary of Naspers. Naspers has a 34% stake in Tencent.
Naspers slumped nearly 5% to R1 206.93, making it the biggest decliner of the benchmark Top-40 index, after its earnings were hit by expansion spending.
The Top-40 index edged 0.61% lower to 46 054. The broader All-share index was down 0.52% to 51 058.
Also falling was mobile phone operator Vodacom [JSE:VOD], which was down 4.36% to R129.50 as it traded ex-dividend, or without the right to its latest dividend.
But shares of platinum firms Anglo American Platinum [JSE:AMS], Impala Platinum [JSE:IMP] and Lonmin [JSE:LON] rose as the striking Association of Mineworkers and Construction Union (Amcu) said it would end a five-month stoppage at the mines operated by the three firms after signing wage deals.
Workers are expected to start returning to work on Wednesday, ending the sector's longest and costliest strike.
Amplats gained 1.6% to R498 and Impala added 1.11% to R114.25, while Johannesburg-listed shares of Lonmin were up nearly 3% to R46.69.
* Fin24 is part of Media24, a subsidiary of Naspers. Naspers has a 34% stake in Tencent.
