MARKET WRAP: JSE softer, with miners faring worst after disappointing Chinese data
A firmer local currency put rand hedges and miners under pressure on Tuesday, with the JSE tracking generally weaker global markets in the wake of softer commodity prices.International data was mixed and the rand recovered somewhat after upbeat GDP numbers out of Germany lifted the euro.The JSE’s gold index slumped 3.81%, its largest daily decline since June, after the release of a series of downbeat Chinese economic data for October.Local retailers were mixed ahead of the release of Statistics SA’s retail sales print for September on Wednesday. Domestic economic growth is seen in many quarters to be diverging from that of the rest of the world, but analysts have said the global outlook remained generally supportive of equity markets.There was a brighter outlook for equity performance outside the US over the next few quarters as the global economic expansion finally filtered through to the bottom lines of companies in Japan, Europe and emerging markets, said BlackRock global chief i...
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