JSE likely to offer investors some Black Friday bargains
Asian markets pointed to drops for Naspers and BHP, whose woes will be compounded by a stronger rand
Black Friday bargains may be available on the JSE, judging by Asian markets. In Hong Kong, Tencent was down 1.5% to HK$290.60, indicating Naspers is likely to resume its slide after two days of gains. In Sydney, BHP was down 0.6% to A$31.60. The top 40’s two biggest constituents are also likely to suffer from the rand’s rally following Thursday’s interest rate increase.
The rand held on to most of its gains overnight, trading at R13.76/$, R15.71/€ and R17.73/£. While the stronger rand will compound Naspers’s and BHP’s woes, retailers may benefit from cheaper imports ahead of Christmas. Life Healthcare completes the JSE’s trio of private hospital group results on Friday. In contrast with Mediclinic, which was dragged into a loss by its Swiss hospitals, and Netcare, whose earnings were halved by its UK hospitals, Life Healthcare managed to sell its 49.7% of problematic Indian joint-venture Max Healthcare for R4.3bn in September. Life Healthcare said on November 9 that it expecte...
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