Johannesburg - Shares of South African retailer Massmart Holdings fall nearly 3 percent after the Wal-Mart Stores unit says profit for the first-half of 2013 is down 10 percent as debt-laden consumers at its home market cut down on spending.
Massmart, South Africa's No. 2 retailer by value, says headline earnings per share before forex gains totalled 181 cents in the six months to end-June compared with 201 cents a year earlier.
Shares of Massmart are down 2.9 percent at 150.23 rand, putting the retailer on course for its lowest close in nearly two years. - Reuters