* S.Africa stocks track global peers on Spanish jitters
* Losers include Nedbank, MTN, Harmony
JOHANNESBURG, April 16 (Reuters) – South African stocks
edged lower on a glum global outlook as the markets faced fresh
concerns over Spain’s fiscal problems and a resurgent euro zone
crisis overshadowed optimism generated by higher-than-expected
U.S. retail sales in March.
The Top-40 index shed 0.12 percent to 29,684.54,
and the wider All-Share measure dropped 0.13 percent to
33,661.21.
From Johannesburg to New York, the mood was soured by the
events in Spain.
Concern is growing that the recession will make it
impossible to meet deficit targets and that Spain will have to
seek some form of international bailout even as the Spanish
government says it is committed to making major budget cuts.
“The overall mood is one of risk aversion after the news
from Spain,” said Eugen Weinberg, an energy analyst at
Commerzbank in Frankfurt.
Blue-chip losers on Monday included Nedbank, which
shed 1.87 percent, and MTN Group, which lost 1.57 percent to
close the day at 129.72 rand.
Harmony Gold Mining, which announced on Friday that
its production for the March quarter would be 18 percent lower
than the previous one, extended its Friday losses. Dropping a
further 1.18 percent.
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