Futures fall along with JSE as Naspers’s plan to sell Tencent shares spooks investors
South African futures were lower on Thursday, after a renewed bout of risk-off selling hit market heavyweights, in particular Naspers.After falling more than 9% during the course of the day, Naspers closed 4.59% lower at R3,300.Overall market volumes were high — R30bn compared to the usual daily average of R20bn — with most of this trade in Naspers.Local retailers were mixed, and economic data earlier in the day was disappointing. Retail sales grew 3.1% in January compared to a year earlier, well below market expectations of about 6.3%.A sharply lower opening on the Dow, and weaker European markets added to the negative sentiment. The all share closed 1.83% lower at 57,224.60 and the top 40 lost 2.13%. Banks dropped 2.54%, industrials 2.44%, general retailers 1.78%, financials 1.59% and property 1.38%.The gold index rose 2.17%.The Dow was 1.58% off at the JSE’s close, as the technology sector remained under pressure from the fall-out regarding Facebook's use of user data, Dow Jones ...
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