{"id":6209,"date":"2008-12-02T20:22:00","date_gmt":"2008-12-02T18:22:00","guid":{"rendered":""},"modified":"2008-12-02T20:22:00","modified_gmt":"2008-12-02T18:22:00","slug":"mtn-share-slump","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/telecoms\/6209-mtn-share-slump.html","title":{"rendered":"MTN share slump"},"content":{"rendered":"

Shares in African mobile phone giant MTN slumped before the market closed on Tuesday as news of Nigeria’s currency free-fall against the dollar stoked concerns about MTN earnings, a fund manager said. <\/p>\n

Shares in the company closed down 11.63%, or R12.10, to R91.90, under-performing the JSE Top 40 index, which ended down just 2.90%. <\/p>\n

"It’s basically on the devaluation of the Nigerian naira which will hamper MTN earnings out of Nigeria," said Michele Santangelo, a fund manager at Cortex Securities. <\/p>\n

Media reports suggest that the naira is in free-fall against the dollar after that country’s central bank limited the amount of US dollars sold at its fortnightly auction on Monday. <\/p>\n

MTN share price discussion<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares in MTN slumped before the market closed on Tuesday <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-6209","post","type-post","status-publish","format-standard","hentry","category-telecoms"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/6209"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=6209"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/6209\/revisions"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=6209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=6209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=6209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}