JSE tracks lower global equity markets with platinums leading the declines
The JSE closed lower on Thursday, after a spate of data releases that weighed on both the local bourse and international markets. The session started inauspiciously after disappointing data that showed industrial growth in China slowed for a second straight month in August, indicating the world’s second-largest economy may be losing momentum in the third quarter‚ reported Dow Jones Newswires. SA’s current account deficit increased to 2.4% of GDP from 2% in the first quarter‚ well above expectations of 1.7% to 1.9%. The difference was attributed to an increase in payments to the South African Customs Union. Export growth outpaced import growth, and this was expected to persist as the global economy recovered, while local consumer and business confidence remained depressed, said Investec economist Kamilla Kaplan. Further signals that monetary policy may be tightened came after the Bank of England opted not to raise interest rates, but gave clear signals that they would, in future, ris...
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