MARKET WRAP: JSE marginally weaker after gloomy data

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The local currency broke through R14.50/$, weakening overnight on Wednesday after British MPs rejected a no-deal Brexit.

Some stocks with interests in the UK benefited as a result, with Hammerson gaining 3.2% to R72.87 and Intu Properties 2.78% to R21.10.

Earlier, Chinese data was disappointing, with industrial production falling to a 17-year low in January. US President Donald Trump also said on Wednesday he is “in no rush” to make a trade deal with China, Dow Jones Newswires reported. Shortly after the JSE closed, gold had slipped 1.05% to $1,295.34/oz and platinum 1.93% to $827. Brent crude was down 0.31% to $67.44 a barrel.

MC Mining was flat at R9.50, after saying earlier its headline loss per share for the six months to end-December had narrowed to 2.49c, from the prior matching period’s 69.04c.

 

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