South African News: The South African market declined 0.07% on Friday. Resources declined by 1.38% however, Industrials and Financials rose by 0.48% and 0.59% respectively. On the corporate front, Naspers associate, Tencent, confirmed intentions to buy a 15% stake in the Chinese e-commerce website, JD, for $ 214.7 million in order to improve its competitiveness in the market. This expanding exposure to the Chinese e-commerce market should support growth prospects for Naspers over the long term. In trading this morning, the All-Share is 1.1% weaker and the rand is trading at R 10.74 to the US Dollar. On the data front, we will be watching the monthly European Industrial Production data.
Posted on: Mon, 10 Mar 2014 08:49:51 +0000
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