Telkom made minor gains in midday trade on Friday (29 June) having slumped to an all-time low at close on the JSE on Thursday (28 June).<\/p>\n
The JSE gained 0.66% to 33,473 points, having slid to a three-week low at close on Thursday.<\/p>\n
Telkom<\/strong> was 1.22%, or 23 cents, to the good by 13:00 on the JSE, having lost 90 cents\u201a or 4.57%, to R18.80 – a fresh all-time closing low on Thursday.<\/p>\n The group revealed a 1.2% increase on overall basic voice and data services as part of its 2012 annual tariff adjustment, noting that it is below the Consumer Price Index.<\/p>\n The adjustments, which will come into effect on 1 August 2012, apply to Telkom\u2019s tariffs for line rentals, outgoing calls, DSL and data connectivity services.<\/p>\n Naspers<\/strong> was also a big loser on Thursday, dropping more than R22 with a dealer noting that the company was a victim of general negative sentiment in the market. He added that TenCent, in which Naspers has a substantial holding, also declined as Chinese stocks fell on Thursday.<\/p>\n On Friday, shares in Naspers gained 93 cents to R439.20 on the JSE.<\/p>\n On Wednesday, Naspers reported a 19% rise in consolidated revenues for the year ended March 2012, to R39.5 billion, buoyed by its internet businesses, where revenues jumped 59%.<\/p>\n Operating profit however, declined to R3.202 billion from R4.056 billion, due mainly to accelerated consolidated development costs which ballooned to R2.8 billion from R1.5 billion in 2011.<\/p>\n Total core headline earnings were R6.9 billion \u2013 an increase of 15% on the prior year. It reported a 16% rise in fully diluted headline earnings per share to R12.54 for the year ended March 2012\u201a from R10.82 a year ago.<\/p>\n In other tech stocks, shares in Vodacom<\/strong> was flat, at R92.66, having slipped 1.71% on Thursday, while MTN<\/strong> dropped R1.76 or 1.26% to R138.24, having shipped 1.75% on Thursday.<\/p>\n Related articles:<\/strong><\/p>\n Tech stock watch: Gijima suffers<\/a><\/strong><\/p>\n