The JSE closed lower on Tuesday, as mining stocks pulled the market down on disappointing data from China and softer commodity prices. The rand clawed back some of its losses against the dollar as the euro gained on the greenback following the release of upbeat German economic data. Germany reported the fastest pace of growth since the first quarter of 2011. It expanded by 0.8% during the three months to September. The rand gained more than 0.6% to the dollar to an intra-day best level of R14.3451, before weakening again. Banking stocks were flat while property gained. Retailers were mixed ahead of the release of September’s retail sales data on Wednesday. Chinese industrial output growth slowed to an annual 6.2% in October from 6.6% in September. Its fixed-asset investment increased 5.8% in the first 10 months of 2017, lower than a previous 6%, raising concern about slowing economic growth in the world’s second-largest economy. Lower oil prices added to the concern. Soon after the ...
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