The Johannesburg Stock Exchange opened weaker on Friday with top 40 shares such as Naspers and MTN leading the charge down.
At
9.30am, the all share index had shed 1.36% to 49,741.10 points. It was
last at this level at the end of September. The blue-chip top 40 index
had declined 1.55% by the same time.
Leading indices on the bourse were lower. Banks gave back 1.52% while financials lost 1.35%. Resources were down 1.45% and industrials fell 1.36%. Platinums shed 0.85%. Gold was the exception and added 0.15%.
In local company news, MTN said on Friday that the Nigerian Communications Commission (NCC) had increased its fine to $3.9bn from the $3.4bn the company was told on Wednesday it would have to pay by the end of December.
MTN said the latest amount was set out in a letter from the commission late on Thursday, which superseded Wednesday’s letter that had reduced the original $5.2bn fine to $3.4bn.
The group said that neither letter explained how the reduction was determined and the company was "carefully considering" both letters. Executive chairman Phuthuma Nhleko would "immediately and urgently re-engage with the Nigerian authorities before responding formally".
The share price was down 5.64% at R132.10.
Diversified media company Naspers said it had successfully raised $2.5bn from institutional investors to help fund its investments into e-commerce companies, including into the Russian classifieds business Avito.
A total of 18.2-million shares were placed at R1,975 each in a book-building exercise.
Naspers’s share price fell 3.59% to R1,995.63.
Lonmin plunged 48.84% to 22c.
Advanced Health was up 1.66% to R2.45.
Brait fell 1.19% to R157.11.
Later in the day, attention will fall to US nonfarm payrolls for November. The figures will provide crucial information for US Federal Reserve officials before they decide whether to raise interest rates later at their December policy meeting.
Economists surveyed by The Wall Street Journal expected payroll growth of 205,000 and the unemployment rate to have held steady at 5%.
by Colleen Goko,
Leading indices on the bourse were lower. Banks gave back 1.52% while financials lost 1.35%. Resources were down 1.45% and industrials fell 1.36%. Platinums shed 0.85%. Gold was the exception and added 0.15%.
In local company news, MTN said on Friday that the Nigerian Communications Commission (NCC) had increased its fine to $3.9bn from the $3.4bn the company was told on Wednesday it would have to pay by the end of December.
MTN said the latest amount was set out in a letter from the commission late on Thursday, which superseded Wednesday’s letter that had reduced the original $5.2bn fine to $3.4bn.
The group said that neither letter explained how the reduction was determined and the company was "carefully considering" both letters. Executive chairman Phuthuma Nhleko would "immediately and urgently re-engage with the Nigerian authorities before responding formally".
The share price was down 5.64% at R132.10.
Diversified media company Naspers said it had successfully raised $2.5bn from institutional investors to help fund its investments into e-commerce companies, including into the Russian classifieds business Avito.
A total of 18.2-million shares were placed at R1,975 each in a book-building exercise.
Naspers’s share price fell 3.59% to R1,995.63.
Lonmin plunged 48.84% to 22c.
Advanced Health was up 1.66% to R2.45.
Brait fell 1.19% to R157.11.
Later in the day, attention will fall to US nonfarm payrolls for November. The figures will provide crucial information for US Federal Reserve officials before they decide whether to raise interest rates later at their December policy meeting.
Economists surveyed by The Wall Street Journal expected payroll growth of 205,000 and the unemployment rate to have held steady at 5%.
by Colleen Goko,
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