Sell-off in Naspers pushes JSE lower | Fin24
  • Credit Rating

    'I think Moody's will be happy' - President Ramaphosa says plan to deal with Eskom's debt is imminent.

  • 'No Basis in Fact'

    The PIC commission has slammed Iqbal Survé’s claims about Minister Pravin Gordhan.

  • Fin24’s newsletter

    Sign up to receive Fin24's top news in your inbox every morning.


Sell-off in Naspers pushes JSE lower

Dec 01 2017 18:02
Martin Harris, EasyEquities

Company Data


Last traded 131
Change -2
% Change -1
Cumulative volume 2281735
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA


Last traded 55
Change 0
% Change 0
Cumulative volume 2177143
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA


Last traded 158
Change 1
% Change 1
Cumulative volume 904787
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Naspers drags down JSE industrials as Tencent falters

JSE closes down as rand strengthens

Naspers drags JSE lower

How Naspers influences portfolio returns


Cape Town - The rand eased slightly to R13.70 against the greenback on Friday, remaining firm following SA's sovereign credit ratings downgrade by S&P global a week ago. 

Global investors have looked past domestic politics in search of yield, supporting the local currency.  

The All-Share index edged 0.54% lower, while the blue-chip Top40 lost 0.72%. 

Financials closed in the green, gaining 0.24%, countered by industrials dropping 1.09% and gold miners losing 1.32% as the gold price remained subdued at $1 295 per ounce.

Naspers [JSE:NPN] continued to slide, falling 4.23% to R3 531.62 per share after its Chinese investment, Tencent, fell 3.27% in Hong Kong. 

Tencent remains the company’s primary source of returns

MultiChoice, Naspers’s pay-TV subsidiary, meanwhile, is facing allegations it paid bribes to secure influence over state policy. 

Allegations link the company to an excessive payment for the SABC news channel as cover to secure a change in government policy on encryption.  

READ: It's up to MultiChoice to probe corruption claims - Naspers

European Markets were under pressure on Friday, with the Dax edging down 0.36% as German politicians remain in a prolonged political deadlock to assemble a coalition. Seeking to forge a new government, German Chancellor Angela Merkel has held her first meeting with the Social Democrats. 

Retailers firm  

Retailers firmed on Friday, with Mr Price [JSE:MRP] gaining 2.8% to trade at R214 per share. Shoprite [JSE:SHP] was up 2.23%  to R232.92, while Woolworths [JSE:WHL] recovered 2.07% to trade at R59.20 per share off a low base.  

Brent Crude oil, meanwhile, remained firm, trading at $63.67 per barrel after OPEC and non-OPEC producers led by Russia agreed on Thursday to extend output cuts until the end of 2018.

US markets were firmer after pulling back from the Wall Street highs seen in the previous session as the Senate tax bill ran into significant hurdles.

With concerns over the deficit, it's now possible that deep tax cuts might have to be moderated, future tax increases might be built in and that some conservatives might seek to attach spending cuts.

READ: Stocks mixed as US tax reform outcome awaited

A Senate vote has now been delayed, and it's not clear if it will even take place today.

In the UK, the breakthrough in Brexit talks that Prime Minister Theresa May has been working to clinch next week is at risk after Northern Ireland's Democratic Unionists made it clear they were in no mood to compromise over the Irish border.

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

equities  |  investments  |  jse  |  stocks


Company Snapshot


Struggling power utility Eskom will take centre stage at this year's mini budget

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote