South African stocks track global markets lower

JOHANNESBURG (Reuters) - South African stocks ended lower on Tuesday, tracking a downbeat mood in emerging markets, although mining firms kept the downside momentum in check thanks to an above-forecast China factory survey. Equity markets tumbled after data in Germany and France raised concerns about the economic health of Europe - one of South Africa's major trading partners. "We have been under pressure because of that data ... but commodities are doing much better because the signs are China is doing better," said Rigardt Maartens, a portfolio manager at PSG Securities. The JSE Top-40 index lost 0.8 percent to 44,873 and the broader All-share index was down by the same margin at 50,054. Paper maker Mondi fell 2.5 percent to 190.09 rand as charts suggested it had strayed into overbought territory. Iron ore miner Assore dropped 2.8 percent as the price of iron ore fell below the key $80 per tonne level for the first time in five years. Boosted by news that China's Purchasing Managers Index beat forecasts, bourse heavyweight BHP Billiton gained 0.7 percent to 317.52 rand and rival Anglo American was up 0.6 percent at 260.12 rand. Trade was brisk, with 226 million shares changing hands - above last year's daily average of 176 million. Some 208 companies dropped while 85 gained.