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Weak Economic Releases Weigh Heavily on Markets

By Adriaan PaskMarket OverviewMar 15, 2019 10:02
za.investing.com/analysis/weak-economic-releases-weigh-heavily-on-markets-200198332
Weak Economic Releases Weigh Heavily on Markets
By Adriaan Pask   |  Mar 15, 2019 10:02
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South Africa
Despite strong mining production figures, Thursday ended flat for the JSE as disappointing economic data releases bred caution amongst investors. At the close of trade, the All Share was down 0.07%.

United States
US market sentiment dropped on Thursday after a report was released stating that Presidents Donald Trump and XI Jinping’s trade meeting will most likely be postponed to, at the earliest, April. At 19h20, the Dow stood 0.02% higher.

Europe
European shares hit a five-month high on Thursday as investor sentiment improved, however, Bloomberg warned that a delay in the US-China trade deal could upset gains. The British parliament met once again on Thursday night to vote on whether to postpone their exit from the EU. The pan-European STOXX 600 index closed 0.78% up.

Hong Kong
Chinese indices extended losses on Thursday due to trade negotiations with the US slowing down and Chinese industrial production reaching a 17-year low in January and February. At the end of trade, the Shanghai had fallen by 1.20%.

Japan
Thursday was a flat day for the Nikkei as gains by index-heavyweight SoftBank were offset by disappointing Chinese data that increased concerns over a slowing global economy. At 19h20, the Nikkei was 0.04% up.

Rand
Weak manufacturing data locally and a lower US inflation rate hurt the rand on Thursday, however, it started to recover towards the end of the day. At 19h20, a dollar cost R14.51, a euro R16.40 and a pound R19.27.

Precious metals
On Thursday silver prices fell for the first time in five sessions as investors supported European shares after the British parliament voted against a no-deal Brexit. At 19h20, an ounce of spot gold was trading at $1 295.99 and silver at $15.17.

Oil
It was a mixed Thursday for oil prices due to meagre Chinese data and slower US stock markets being countered by OPEC’s decision to possibly lower production till after July. At 19h20, a barrel of Brent crude was trading at $67.18.

Market Indicators
Market Indicators

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Weak Economic Releases Weigh Heavily on Markets
 
Weak Economic Releases Weigh Heavily on Markets

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