A manufacturing purchasing managers’ index unexpectedly rose in November, boosting Asian markets, but gold miners could sufferThe JSE could get a lift from upbeat sentiment in Asia on Monday morning after unexpectedly positive Chinese data for November.
China’s purchasing managers’ index for November broke a six-month streak of declines, while the non-manufacturing index was at a seven-month high. The move back into expansionary mode in China’s official manufacturing PMI is good news, but the sub-indices paint a mixed picture, said National Australia Bank analyst Rodrigo Catril.
The unemployment index was unchanged, despite there being more working days in November than in October, said Catril.Gold was 0.3% weaker at $1,459.31 an ounce while platinum lost 0.44% to $894.50. Brent crude was 0.74% up at $61.20 a barrel.The day is busy in terms of economic releases, with the Absa purchasing managers’ index for November out later.Also due is the SA Chamber of Commerce and Industry business confidence index for November.
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