From Independent Online

South African stocks fell more than 1 percent on Thursday as investors cashed in everything from banks to bullion mining companies on concerns about slowing growth in Africa’s largest economy.

Trade was interrupted for foreign investors for much of the day due to a system glitch with the Johannesburg Stock Exchange’s data feed in London.

A spokeswoman for the JSE said local clients were not affected.

South Africa’s central bank left its repo rate unchanged on Thursday citing risks to inflation from a weaker rand. Reserve Bank Governor Gill Marcus was downbeat on the outlook for domestic growth, sparking concern among investors.

“It’s quite a bleak local economic picture,” said Abri du Plessis, chief investment officer at Gryphon Asset Management in Cape Town.

“The weaker growth story, rather than inflation, is what the market is focusing on.”

Read more at Independent Online