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SA futures end weaker, track global sentiment


Johannesburg, Mar 5 (I-Net Bridge) - SA futures ended weaker on Monday, taking their cue from negative global investor sentiment.

The near-dated Alsi contract was down 219 points or 0.72% to 30,205 points.

The total number of contracts that exchanged hands was 30,788 from 36,060 on Friday.

The rand was at 7.5667 to the dollar, from 7.4979 and the gold price was at $1,700.15 an ounce from $1,712.73.

US stocks lost ground on Monday amid concerns over economic growth in China and the eurozone, Dow Jones Newswires reports.

European markets were broadly lower after business activity in the single-currency bloc contracted more than expected in February.

The composite PMI for the 17-nation eurozone fell to 49.3, below an earlier estimate and forecasts of 49.7. Readings below 50 indicate contraction.

In addition, there were concerns that the participation rate of Greece's private creditors in the voluntary debt restructuring deal needed for Greece to receive bailout funds will be too low, which in effect could trigger a default.

Asian bourses also fell after Chinese Premier Wen Jiabao said the 2012 target for economic growth would be 7.5%, down from the symbolic target of 8% that had been in place for eight years.

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