Johannesburg - The JSE ended the week in the red,
in line with the international markets, following the release of poor
economic data out of the US and China.
At 17:00 local time, the JSE All Share [JSE:J203] index was down 0.33% at 33 705.53 points. Gold miners were knocked by 1.19% and resources lost 0.40%, while platinum miners nudged up to 0.12%.
Banks gained 0.26%, financials lost 0.10% and industrials dropped by 0.34%.
The rand was trading at 7.93 to the US dollar, from 7.89 at the JSE's close on Thursday. Gold was quoted at $1 669.11 a troy ounce from $1 672.96/oz at the JSE's previous close, while platinum was at $1 595.50/oz, from $1 592/oz at the previous session.
"The headline number out of China was obviously a miss, but there were some encouraging signs out of the country's industrial production figures, so we think a rebound was forthcoming" said Sasha Neryshkine, portfolio manager at Vestact.
Chinese data showed gross domestic product growth slowed to 8.1% in the first quarter from 8.9% in the fourth, below the 8.3% market consensus expectations.
Dow Jones Newswires reported that US stocks traded lower, knocked by the poor data out of China, and the report on consumer confidence in the US, that showed people were less optimistic about the economy.
At 16:53 local time the Dow Jones Industrial was 92.15 points lower at 12 894.43 points.
"People are spooked today because there are a lot of big headlines out there. And we've been up nicely over the last couple days so there may be some people taking profits," said Tim Holland, portfolio manager at TAMRO Capital Partners.
At 17:00 local time, the JSE All Share [JSE:J203] index was down 0.33% at 33 705.53 points. Gold miners were knocked by 1.19% and resources lost 0.40%, while platinum miners nudged up to 0.12%.
Banks gained 0.26%, financials lost 0.10% and industrials dropped by 0.34%.
The rand was trading at 7.93 to the US dollar, from 7.89 at the JSE's close on Thursday. Gold was quoted at $1 669.11 a troy ounce from $1 672.96/oz at the JSE's previous close, while platinum was at $1 595.50/oz, from $1 592/oz at the previous session.
"The headline number out of China was obviously a miss, but there were some encouraging signs out of the country's industrial production figures, so we think a rebound was forthcoming" said Sasha Neryshkine, portfolio manager at Vestact.
Chinese data showed gross domestic product growth slowed to 8.1% in the first quarter from 8.9% in the fourth, below the 8.3% market consensus expectations.
Dow Jones Newswires reported that US stocks traded lower, knocked by the poor data out of China, and the report on consumer confidence in the US, that showed people were less optimistic about the economy.
At 16:53 local time the Dow Jones Industrial was 92.15 points lower at 12 894.43 points.
"People are spooked today because there are a lot of big headlines out there. And we've been up nicely over the last couple days so there may be some people taking profits," said Tim Holland, portfolio manager at TAMRO Capital Partners.