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  • Welcome to the FT Market Minute.

  • Here's what we're watching in London on Friday morning.

  • After a quiet week for top drawer economic data,

  • the quarter's ending with a flurry of reports.

  • Including UK GDP, US consumer confidence, and eurozone inflation.

  • And as they wait for these numbers, traders are in a cautious mood.

  • Global stocks fell a good quarter, but US equity futures are ending much lower,

  • dragging down European stocks after mostly losses in Asia.

  • Notable casualties are South African assets after President Jacob Zuma sacked his finance minister.

  • The rand is down 8% on the week.

  • The last time it had a fall like this was the last time a finance minister was sacked.

  • Who knew?

  • Equities with significant exposure to South Africa are also under the cosh with falls to stocks like Old Mutual hitting the FTSE.

  • In other currency news, the dollar index remains above 100

  • as it continues to be supported by recent evidence that Fed and ECB policy divergence is very much alive.

  • This has halted gold's recent rally, leaving the bullion around 1,240 an ounce.

  • And oil prices are a bit softer, but by Brent and West Texas Intermediate, are back above $50 a barrel.

Welcome to the FT Market Minute.

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B1 UK FinancialTimes sacked rand finance minister european

European stocks soft, rand retreats | Market Minute

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    Colleen Jao posted on 2017/04/07
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