Stock exchanges trading ahead of the JSE’s opening on Friday morning were slightly down, possibly because of Microsoft’s share price falling 0.3% in after-hours trade on Nasdaq. Microsoft’s share price initially jumped 4% after it released its fourth-quarter results that beat expectations, but then fell after chief financial officer Amy Hood said she expected revenue to decline in the first quarter of its 2018 financial year. Hood said revenue for the quarter under way was expected to be in a range of $23.6bn-$24.3bn, lower than the $24.7bn it reported for the June quarter. Taiwan’s TSEC index was down 0.46%, Shanghai’s composite index was down 0.2% and Australia’s S&P/ASX 200 was down 0.56%. The JSE’s retailers cheered the Reserve Bank’s surprise decision to cut interest rates on Thursday. Clothing retailer Truworths rose 4.06% to R78.50, Walmart’s South African subsidiary Massmart rose 3.81% to R112.63 and Mr Price rose 3.29% to R175.60. The 2.57% rally in the JSE’s general retail...
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