The JSE was a tale of two trends in early morning trade on Monday, as industrials jumped on a firmer Naspers but miners opened weaker as the fallout from last week’s Mining Charter continued to affect sentiment in the sector negatively. Naspers jumped more than 2% following an earlier subdued response to a trading update indicating an expected annual 4%-10% rise in headline earnings per share to end-March. Core headline earnings per share are set to rise by between 33% and 39%. Naspers was supported by brisk trading in its Chinese investment Tencent, of which it owns 34%. Tencent was up 1.76% in Hong Kong trade, following widespread profit-taking among global tech stocks last week. Gold shares led the retreat among miners, with platinum shares also weaker but resources less so. Banks and financials firmed as the rand held up below the R12.80/$ level despite the dollar trading firmer against the euro. Resources stocks took pain on Thursday ahead of the June 16 long weekend, on the re...
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