{"id":34133,"date":"2013-03-22T11:51:05","date_gmt":"2013-03-22T09:51:05","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=34133"},"modified":"2013-03-22T12:11:04","modified_gmt":"2013-03-22T10:11:04","slug":"naspers-mtn-slide-4-5-on-the-jse","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/mobile\/34133\/naspers-mtn-slide-4-5-on-the-jse\/","title":{"rendered":"Naspers, MTN slide 4.5% on the JSE"},"content":{"rendered":"

Shares in media giant Naspers<\/a>, and mobile operator MTN<\/a>, dropped in excess of 4% each in mid-day trade on the JSE on Friday (22 March) amid a sell-off on industrials by investors looking to take profits.<\/p>\n

Shares in Naspers declined R26.28 or 4.41% to R569.59 shortly before noon on the local bourse, down from a peak of R645.75 on the 11 March.<\/p>\n

MTN meanwhile, lost R8.27 or 4.71% to R167.21 due to its ex-dividend status. MTN is also down from a best of R183.79, achieved in early February.<\/p>\n

Naspers<\/strong><\/p>\n

A local dealer attributed Naspers\u2019s demise to Chinese firm Tencent<\/a>, which fell HK$10.40 or 3.96% to HK$252.40 on Thursday after analysts cut the group\u2019s share-price forecast.
\nNaspers has a 35% interest in China\u2019s largest internet company.<\/p>\n

According to Bloomberg, Morgan Stanley cut the company’s share price forecast by 1.6% to HK$315.70, citing lower profit margins and slowing growth in game sales after Tencent released fourth-quarter earnings that beat analyst estimates on Wednesday.<\/p>\n

Goldman Sachs Group, JPMorgan Chase & Co., Piper Jaffray, CIMB Group Holdings, OSK Securities Hong Kong, and Bocom International Securities, also dropped their price targets.<\/p>\n

Tencent reported a 54% increase in revenue for the year ended 2012, with an operating profit up 26.3%.<\/p>\n

Total revenues for the fourth quarter of 2012, showed a 5.1% increase from the prior quarter, while operating revenue quarter on quarter declined 9.7%.<\/p>\n

MTN<\/strong><\/p>\n

The dealer pointed to MTN\u2019s ex-dividend status on Friday. Earlier this month, the group declared a final dividend of 503 cents for the year ended December 2012, from 476 cents in 2011.<\/p>\n

He also said that a number of investors were looking to cash in on industrials on the JSE. \u201cIt looks like there is a broad sell-off in big industrials. A lot of investors are looking to take some cream off the top,\u201d he said.<\/p>\n

The All Share index traded a fraction over 40,000 points, off 0.79% on the day.<\/p>\n

More on Naspers and MTN<\/h3>\n

MTN lifts revenue, ups dividend<\/strong><\/a><\/p>\n

MTN and Naspers lead in emerging markets<\/strong><\/a><\/p>\n

MTN targeting South East Asia?<\/a><\/strong><\/p>\n

MTN actively pursuing Myanmar licence<\/strong><\/a><\/p>\n

MTN shares to hit R200 in 2013?<\/strong><\/a><\/p>\n

Naspers in $570m Russian internet deal<\/strong><\/a><\/p>\n

Naspers associate to pay out special dividend<\/a><\/strong><\/p>\n

Naspers hikes Internet revenue by 70%<\/strong><\/a><\/p>\n

Naspers outlines R4.7bn ecommerce drive<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares in Naspers and MTN dropped in excess of 4% each in mid-day trade on the JSE on Friday amid a sell-off on industrials by investors looking to take profits.<\/p>\n","protected":false},"author":9,"featured_media":28250,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9882,34],"tags":[5436,5435,1999,26,5348,175,2890,28,107,5434,1977],"class_list":["post-34133","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internet","category-mobile","tag-bocom-international-securities","tag-cimb-group","tag-goldman-sachs","tag-headline","tag-jpmorgan-chase-co","tag-jse","tag-morgan-stanley","tag-mtn","tag-naspers","tag-piper-jaffray-cos","tag-tencent"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/34133","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=34133"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/34133\/revisions"}],"predecessor-version":[{"id":34136,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/34133\/revisions\/34136"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/28250"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=34133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=34133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=34133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}