JSE all share opens slightly up on Black Friday as Naspers rebounds
The JSE opened higher in low-volume trade on Friday in what is expected to be a subdued day for the markets. US markets will be open for only half the day after Thanksgiving on Thursday. JSE market volumes were less than R1bn an hour after the opening. Retailers were marginally up on Black Friday, which usually boosts consumer sales in the final quarter of the year. Gold and platinum shares were higher on a weaker rand and flat metal prices. Naspers led the market higher after closing weaker for two sessions earlier in the week, as the Chinese authorities continued their clampdown on the internet micro-loan market. This affected Chinese internet company Tencent, of which Naspers owns about a third. Tencent has plans to focus more on this market, and diversify away from its game-downloading business. Moody’s and S&P Global Ratings are set to release their credit rating decisions on Friday evening. On Thursday, Fitch Ratings affirmed SA’s long-term foreign and local currency debt rati...
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