The JSE rebounded on Friday morning on a weaker rand, as global markets remain jittery on unexpected weak European data, new trade tensions and a more hawkish stance from the US Federal Reserve.The early estimate of real GDP growth for the eurozone showed a significant slowdown for the first quarter of the year. Quarterly GDP growth fell from 0.7% to 0.4% -the slowest pace of quarterly growth for six quarters.However, the year-on-year measure fell to 2.5%, which by historical comparisons remains very strong, Schroders analyst Azad Zangana said."It appears that adverse weather probably caused output growth to slip as heavy snow disrupted travel, construction and some production," he said.The dollar firmed in response, driving the rand to renewed four-month lows, supporting miners. Banks and retailers also gained.The arrival of US officials in China for trade talks weighed on sentiment, returning the outlook for global trade to the spotlight.US nonfarm payrolls and wage data were set ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.