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Massmart slides 11% to multi-month lows on trading update
Massmart (MSM) lost about R3bn of its market value as investors sold the stock following its weak trading update.
In a terse statement, the retailer said it expected headline earnings per share in the six months to June to drop by between 22.4% and 29.8% from a year ago.
The sell-off left the mid-cap share at about R113.80 - its weakest point since February last year.
Source: BDpro
